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SAFABANK realizes net loss of $8.13 million in 2024

2025-03-17

According to the financial statements of Al-Safa Bank SAFABANK for the year 2024, Net Loss after tax of the period reached (8,127,840) USD Compared with Net Loss after tax (878,969) USD for 2023, a net increase in loss of 824.70%.Total assets of the company reached 354,323,615 USD compared with total assets of 426,637,931 USD at the end of year 2023, a net decrease of 16.95%.Total liabilities of the company reached 337,297,686 USD (including Total liabilities and Quasi-Equity ) 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 13.17%. Net ownership equity of the company reached 61,329,585 USD compared with total owner equity of 57,794,957 USD at the end of year 2023, a net increase of 6.12%.Noting that paid-in capital decreased from 75,000,000 USD in year 2023 to 63,796,651 USD of this year,a net decrease of 14.94%.