send to a friend by email

SAFABANK realizes net loss of $6.48 million in 9M 2024

2024-11-17

According to the financial statements of Al-Safa Bank SAFABANK for the first nine months of 2024, Net Loss after tax of the period reached (6,477,806) USD Compared with Net profit after tax 173,961 USD for 2023.Total assets of the company reached 365,826,411 USD compared with total assets of 426,637,931 USD at the end of year 2023, a net decrease of 14.25%.Total liabilities of the company reached 335,890,887 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 13.53%. Net ownership equity of the company reached 51,317,151 USD compared with total owner equity of 57,794,957 USD at the end of year 2023, a net decrease of 11.21%.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%.