“Flexible” turns into a loss of 3.5 million riyals by the end of the first quarter of 2026

The Flexible Murabaha Company has been transformed into financing "Flexible" to a loss by the end of the first quarter of the year 2026, with a net loss of 3.5 million riyals, compared to a net profit of 4.2 million riyals in the same quarter of the previous year.

According to a company statement on "Saudi Arabia trading"The reason for recording losses is due to a decrease in revenues and an increase in impairment losses in the financing portfolio, partially offset by a decrease in the losses of the subsidiary company (LOOP).

At the revenue level, the company’s revenues decreased by 11.57% to reach 46.69 million riyals during the first quarter compared to 52.8 million riyals in the same period of the previous year, and this is mainly due to a decrease in the volume of financing granted to customers in addition to the suspension of accounting recognition of revenues for non-performing loans.

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