Tamweel Aloula: Profits Rise to SAR 180 million, a 42% Increase in 2024

Tamweel Aloula has announced achieving the highest return on equity among financing sector companies in the Kingdom for 2024 at 25%, with net profits reaching SAR 180 million, a 42% increase over the previous year.

According to the company’s statement, its total revenues for 2024 recorded a 20% increase compared to 2023. The company also experienced a rise in net profits after zakat deduction, amounting to SAR 180 million, a 42% increase from the previous year, reflecting – as the statement noted – an improvement in its financial and operational performance.

Commenting on the unprecedented financial results, the company’s Managing Director, Saleh Hassan Alafaliq, stated that he and the board are proud of achieving the highest revenues and net profits in the company’s history. He added, “We are committed to developing return on equity and enhancing the strong performance and standing of the company as a leader in providing creative financing solutions.”

He further mentioned that the company has been focused on continuously improving its performance, expanding its service range to meet customer needs, and has made apparent efforts to enhance customer experience, develop digital solutions, and offer innovative financing products suitable for various beneficiary segments.

Tamweel Aloula is considered one of the most diverse companies in the financing sector in terms of products serving individuals and small to medium enterprises. Its offerings include point-of-sale financing, personal financing, lease financing, and real estate financing. It is a closed joint-stock company licensed by the Saudi Central Bank that works to develop and provide solutions for beneficiaries in the Saudi market.