Riyadh, Saudi Arabia — United International Holding Company (TAS’HEEL) reported a net profit of SAR 117.61 million for the first half of 2025, up 18.6% from SAR 99.18 million a year earlier, supported by a 26.9% surge in revenue to SAR 367.06 million, driven by strong growth in its Shariah-compliant financing portfolio.

Consumer Finance Expansion Drives Growth

Gross profit rose 27.9% year-on-year to SAR 321.87 million, while operating profit climbed 19.6% to SAR 132.2 million. These gains reflect robust portfolio performance, though net profit growth was held back by increasing operating costs and elevated expected credit loss provisions.

In Q2 2025, revenue totalled SAR 192.4 million—a 28.4% increase from Q2 2024 and a 10.2% sequential gain. Quarterly net profit reached SAR 59.8 million, up 27.7%, aided by increased yield and portfolio expansion. Operational profit for the quarter stood at SAR 67.51 million.

Shareholders’ equity rose 24.3% to SAR 1.23 billion, and earnings per share improved to SAR 4.70 from SAR 3.97 in H1 2024.

What This Means for Investors

  • Top-line momentum: Portfolio growth of nearly 30% supports strong revenue and gross margin improvement.
  • Provision pressure: Higher credit loss provisions and cost growth continue to limit net margins.
  • Resilient profitability: Equity and EPS gains underscore financial consistency amid growth.
  • Credit discipline focus: Managing credit risk efficiently will be critical for H2 performance.

 

THE SAUDI STANDARD’S VIEW: TAS’HEEL’s Strong H1 Validates Saudi Non-Bank Lending Momentum

TAS’HEEL’s performance in 2025 demonstrates the strength of its Shariah-compliant financing model. The TAS’HEEL H1 2025 profit of SAR 117.6 million, backed by nearly 30% portfolio expansion, shows the Saudi non-bank lending sector is gaining strategic traction.

Double-digit growth in revenue and gross profit highlights growing consumer demand for Islamic credit solutions—this aligns with Vision 2030’s push for broader financial inclusion and diversified sector funding.

The increase in shareholder equity and EPS reflects disciplined capital management and consistent return generation in a high-growth economic segment.

Meanwhile, higher provisions and rising operating costs reflect maturing portfolio dynamics and the company’s cautious approach to credit risk—a necessary stance as the sector scales.

Q2 2025 results show that the company’s growth remains profitable and scalable, with improving margins and yield sustainability.

Overall, TAS’HEEL’s H1 performance confirms Saudi Arabia’s evolution as a regional hub for Islamic consumer finance. As credit innovation and regulatory clarity deepen, the company and sector are well-positioned to support long-term ecosystem diversification and inclusive growth.

 

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