Expected provision for credit losses went down from SR77.9 million to SR55 million over the year RIYADH: Saudi Home Loans, a Shariah-compliant real estate lending firm, earnings were boosted by gains from hedging against future changes in interest cost. First-quarter profit rose by 9.8 percent to SR32.4 million ($8.6 million), against SR29.5 million in the same period a year ago, according to a bourse filing. “The reason for the increase is due to recognized gain from the increase in the fair value of the financial derivatives against future interest cost changes,” the company statement said. Expected provision for credit losses went down from SR77.9 million to SR55 million over the year. Riyadh-based SHL, which joined the Saudi exchange earlier this year, is 28-percent owned by Arab National Bank and its second-largest shareholder is Dar Al Arkan.