Saudi Home Loans Company (SHL) logged net profits amounting to SAR 2.44 million in the first quarter (Q1) of 2023, lower by 92.44% year-on-year (YoY) than SAR 32.35 million.

The earnings per share (EPS) plunged to SAR 0.02 during the first three months (3M) of 2023, versus SAR 0.32 in the year-ago period.

Assets edged down by 0.45% to SAR 4.37 billion in Q1-23 from SAR 4.39 billion in Q1-22, according to the interim financial results.

Meanwhile, the investments stood at SAR 892,850 as of 31 March 2023.

On a quarterly basis, the Q1-23 net profits plummeted by 84.56% from SAR 15.84 million in Q4-22.

Last year, SHL posted net profits valued at SAR 95.88 million, down 7.08% from SAR 103.19 million as of 31 December 2022.