Tabby Financing expanded its lending activity in Saudi Arabia during the first half of 2026, but higher credit provisions, operating costs and financing expenses weighed on profitability.
According to the company’s unaudited interim financial statements, fee and commission income rose to SAR 815.9 million for the six months ended June 30, up from SAR 641.5 million a year earlier. Net profit, however, fell 11.8% to SAR 79.7 million from SAR 90.4 million.
Gross profit increased by about 30% to SAR 306.6 million, while net expected credit loss provisions climbed 64% to SAR 128.8 million. General and administrative expenses rose sharply to SAR 140.7 million, driven partly by the localization of technology, infrastructure, customer support and service operations in Saudi Arabia.
The company’s net outstanding loans reached SAR 3.23 billion at the end of June, compared with SAR 3.18 billion at the end of 2025. Third-stage receivables, covering payments overdue by more than 90 days, stood at SAR 330.2 million.
Tabby Financing also launched a Sharia-compliant consumer finance product near the end of the second quarter. The company said it expects the product to grow and plans to report its income separately as Murabaha revenue in future periods. On June 4, 2026, it received a license covering SME and consumer finance under its existing Saudi Central Bank license.
Source: Jawlah
