Tamara Financing’s net income reached SAR 411.02 million in the first nine months of 2026, up 345% from SAR 92.39 million a year earlier, according to its results.
The company’s income from financing and investment fees rose nearly 238% to SAR 1.48 billion. Islamic financing became a larger part of the portfolio, with related income reaching SAR 713.9 million and the portfolio growing to SAR 4.37 billion, or about half of total financing.
Merchant network revenue also more than doubled to SAR 1.37 billion, while customer processing fees and other services increased to SAR 46.7 million. The broader mix points to a business increasingly serving both consumers and merchants.
Growth came with higher costs and risk indicators. Expected credit-loss provisions jumped 686% to SAR 553 million, while borrowings doubled to SAR 7.52 billion and funding costs rose to SAR 316.8 million.
The operating margin improved to 22% from 12% a year earlier, despite higher processing and servicing expenses. Third-quarter net income reached SAR 203.63 million, compared with SAR 28.08 million in the same period of 2025.
The results put portfolio quality, collections and funding costs at the centre of Tamara’s next growth phase.
Source: Jawlah
