Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) on Sunday announced signing a SAR 500 million sharia-compliant loan with Riyad Bank.
The five-year facility, which was obtained the loan through a promissory note, will be used to finance Bahri’s expansions, according to a statement to the Saudi Stock Exchange (Tadawul).
Bahri last reported a 34.3% year-on-year profit increase during the third quarter of the year, reaching SAR 81.28 million after calculating Zakat and Tax, compared to SAR 60.51 million for the same period last year.
Earnings declined 34.29% to SAR 389.83 million from January to September 2018, compared with SAR 593.28 million in the prior-year period.
By 12:14 pm Saudi time, Bahri’s stock levelled down 0.15% to SAR 32.75.
