send to a friend by email

SAFABANK realizes net loss of $5.17 million in H1 2024

2024-09-16

According to the financial statements of Al-Safa Bank SAFABANK for the first half of 2024, Net Loss after tax of the period reached (5,163,925) USD Compared with Net profit after tax 534,074 USD for 2023.Total assets of the company reached 374,680,102 USD compared with total assets of 426,637,931 USD at the end of year 2023, a net decrease of 12.18%.Total liabilities of the company reached 85,636,760 USD (including Total liabilities and restricted & unrestricted investments accounts of the bank ) compared with total liabilities of 388,438,004 USD (including Total liabilities and restricted & unrestricted investments accounts of the bank ) at the end of year 2023, a net decrease of 77.95%. Net ownership equity of the company reached 52,631,032 USD compared with total owner equity of 57,794,957 USD at the end of year 2023, a net decrease of 8.93%.Noting that paid-in capital decreased from 75,000,000 USD in year 2023 to 52,134,183 USD of this year,a net decrease of 30.49%