RIYADH: Nayifat Finance's business portfolio of small and medium-sized enterprises (SMEs) in the first half of 2021 jumped by 93 percent to SR133.3 million ($35.5 million) year-on-year.
CEO Abdulmohsen Al-Sowailem told CNBC Arabia that the Sharia compliant consumer and SME finance business had a portfolio worth SR69.2 million ($18.4 million) in 2020.
It has an available line of credit of about SR2.2 billion, of which SR600 million had been used, he added.
The firm did not determine the expected return from an IPO announced on Tuesday, Al-Sowailem said.
The company has total assets of about SR1.9 billion, and total shareholders' equity of SR1.2 billion in the first half of 2021, Argaam reported.
