Nayifat Finance Company is one of the major players in the Saudi non-banking financing market, with a total balance sheet loan portfolio of SAR 1,728 million in financial year 2019; and total equity of SAR 1,016 million. Nayifat’s net income has shown a healthy growth of 24% during 2019.
Nayifat’s successful operating model is built on 5 strategic pillars:
1 – Enable easy access to finance: using prompt and easy procedures for customers. The Company has established a robust network of branches throughout the Kingdom of Saudi Arabia, meeting customers’ needs for immediate liquidity.
2 – Expand penetration of financing market and customer segments: Nayifat will focus on individual and SME customer segments, driving business performance through increasing penetration and geographical reach.
3 – Maintain the quality of the credit portfolio: Nayifat focuses on maintaining the quality of its credit portfolio to ensure sustainable growth. The Company seeks to achieve growth in its portfolio without affecting the average quality and profitability of its financing instruments.
4 – Flexibility: Nayifat periodically reviews and updates its strategies to adapt to dynamic market conditions while maintaining strict Corporate Governance policies.
5 – Growth strategy:
- Individual financing
- SME financing
- Credit cards