Nayifat board recommends transfer of SAR 69.7M statutory reserve to retained earnings

05/01/2025 Argaam
Logo of Nayifat Finance Co.

Logo of Nayifat Finance Co.

Nayifat Finance Co.’s board of directors recommended today, Jan. 5, to the ordinary general meeting transferring the company’s entire statutory reserve of SAR 69.65 million to the retained earnings balance.

 

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The statutory reserve is based on the interim financial statements as of Sept. 30, 2024, the company said in a statement to Tadawul.
 
 

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