WALAA-

Walaa Cooperative Ins. turned into the black with a net income of SAR 148 mn in 2023, and revenues rose 12 % y-o-y to SAR 2.9 bn, it said in a disclosure to Tadawul. On a quarterly basis, Walaa reversed its losses with a bottom line of SAR 45.3 mn in 4Q 2023, from a net loss of SAR 11.4 mn in the corresponding quarter a year earlier. Its top line was up 36.6% y-o-y to SAR 880.2 mn in 4Q, according to data seen by Argaam.

NAYIFAT-

Nayifat Finance’s net income fell 48.6% y-o-y to SAR 88 mn in 2023, while revenues inched up 1.2% y-o-y to SAR 397 mn, it said in a disclosure to Tadawul.

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