The year reflected the disciplined execution of our strategy, a sustained focus on core banking fundamentals, and continued investment in digital capability, innovation, and operational efficiency. These elements combined to deliver solid earnings growth, a strengthened balance sheet, and a high-quality, diversified income base, positioning the Bank well for the next phase of growth.
Strong financial performance underpinned by disciplined execution
In 2025, alinma delivered robust financial results driven by healthy balance sheet growth, expanding fee income, and continued margin resilience. Funded income increased to % 9.4 billion, supported by higher financing volumes, improved asset mix, and disciplined pricing across portfolios. Non-funded income also showed solid momentum, reaching % 2.5 billion, reflecting strong cross‑selling, transaction banking growth, and expanding fee-based services across retail, corporate, and SME segments.
Net income after zakat reached % 6.4 billion, reflecting both operating income growth and effective cost management. Operating income grew to % 11.9 billion, while operating expenses remained controlled at % 3.7 billion, allowing the cost-to-income ratio to stabilize to 31.20%. This performance highlights the Bank's continued focus on efficiency, process optimization, and scale benefits from digitalization and automation.
Return on equity improved to 18.70%, while return on assets remained strong at 2.18%, reinforcing alinma's position among the leading performers in the Saudi banking sector. These outcomes demonstrate our ability to generate sustainable profitability while maintaining prudent risk management and capital discipline.
P&L Track Record
Total operating income
Mn +16% CAGR
Total operating expenses
Mn +7% CAGR
Net income
Mn +24% CAGR
Balance sheet strength and high-quality growth
The Bank's balance sheet continued to expand in a balanced and well-managed manner. Total assets grew to % 311 billion, driven by financing, which grew to % 233 billion, supported by strong demand across Corporate, Retail, SME, and Project Finance segments. Growth was diversified across sectors and client segments, reducing concentration risk and enhancing portfolio resilience.
Customer deposits increased to % 227 billion, reflecting strong franchise momentum, deepening customer relationships, and continued trust in alinma's value proposition. Current and savings account deposits represented 48.3% of total deposits, supporting funding stability and margin sustainability. The Bank's liquidity position remained robust, with the loan-to-deposit SAMA ratio at 82.1% and the liquidity coverage ratio comfortably above regulatory requirements at 135%.
Capital strength remained a core pillar of the Bank's financial resilience. Total equity increased to % 48 billion, supported by retained earnings and disciplined capital management. The capital adequacy ratio stood at 19.9%, providing ample headroom to support growth, absorb shocks, and pursue strategic opportunities aligned with Vision 2030.
Net Income after zakat
Total assets
Asset quality and prudent risk management
Asset quality remained strong throughout 2025, reflecting conservative underwriting standards, proactive portfolio monitoring, and effective credit risk management. The non-performing financing ratio improved to 0.92%, while coverage levels remained prudent at 150.3%, underscoring the quality and resilience of the financing portfolio.
Impairment charges for the year amounted to % 1 billion, reflecting both portfolio growth and the continued normalization of credit costs. The cost of risk remained well controlled at 0.47%, supported by diversified exposures, strong collateral coverage, and early identification of emerging risks. These outcomes highlight the Bank's disciplined approach to risk, particularly during a period of rapid economic transformation and sectoral change.
Diversified income and expanding fee-based revenues
A key theme of 2025 was the continued diversification of income streams. Non-funded income increased to % 2.5 billion, accounting for 21% of total operating income. Growth was driven by transaction banking, card services, treasury products, trade finance, and digital channels, reflecting the success of cross‑selling initiatives and the expansion of value-added services.
Treasury activities contributed positively, supported by active balance sheet management, customer-driven hedging solutions, and disciplined investment strategies. Trade finance volumes also increased, reflecting stronger corporate activity and the Bank's growing role in supporting domestic and cross-border trade.
This diversification enhances earnings stability, reduces reliance on margin income alone, and supports sustainable profitability through different economic cycles.
Balance sheet track record
Total assets
Bn +16% CAGR
Financing
Bn +16% CAGR
Customers' deposits
Bn +17% CAGR
Five-year summary table
| Balance sheet ( % Mn) | YE2021 | YE2022 | YoY% | YE2023 | YoY% | YE2024 | YoY% | YE2025 | YoY% | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Financing, net | 126,271 | 146,492 | 16.0% | 173,624 | 18.5% | 202,308 | 16.5% | 229,746 | 13.6% | 16.1% |
| Total assets | 173,476 | 200,436 | 15.5% | 236,715 | 18.1% | 276,827 | 16.9% | 311,067 | 12.4% | 15.7% |
| Customers' deposits | 121,061 | 145,168 | 19.9% | 187,901 | 29.4% | 210,545 | 12.1% | 227,373 | 8.0% | 17.1% |
| Total liabilities | 142,765 | 168,560 | 18.1% | 202,381 | 20.1% | 235,386 | 16.3% | 262,826 | 11.7% | 16.5% |
| Total Shareholders' equity | 25,711 | 26,876 | 4.5% | 29,334 | 9.1% | 41,442 | 41.3% | 48,241 | 16.4% | 17.0% |
| Income statement | ||||||||||
| Total operating income | 6,660 | 7,963 | 19.6% | 9,726 | 22.1% | 10,940 | 12.5% | 11,905 | 8.8% | 15.6% |
| Net income for the period | 2,709 | 3,599 | 32.9% | 4,839 | 34.5% | 5,832 | 20.5% | 6,397 | 9.7% | 24.0% |
| Key ratios | ||||||||||
| Cost-to-income ratio | 35.40% | 34.72% | -1.9% | 31.29% | -9.9% | 30.93% | -1.2% | 31.20% | 0.9% | -3.1% |
| ROAE | 10.81% | 13.69% | 26.6% | 17.22% | 25.8% | 18.80% | 9.2% | 18.70% | -0.5% | 14.7% |
| ROAA | 1.64% | 1.93% | 17.7% | 2.21% | 14.5% | 2.27% | 2.7% | 2.18% | -4.1% | 7.3% |
| NPL ratio | 1.75% | 1.94% | 10.9% | 1.61% | -17.0% | 1.06% | -34.2% | 0.92% | -13.6% | -14.9% |
| NPL coverage ratio | 177.07% | 136.35% | -23.0% | 154.86% | 13.6% | 172.26% | 11.2% | 150.30% | -12.7% | -4.0% |
Operating income composition
Mn Net profit before zakat composition
Mn Customers' deposits composition
Bn Financing, gross composition
Bn Operational efficiency and digital scale
Operational efficiency continued to improve in 2025, supported by ongoing digital transformation, process automation, and disciplined cost control.
Digital channels now account for the majority of customer transactions, onboarding, and product origination, reducing manual processing, accelerating time to revenue, and improving customer experience. Investments in core platforms, data analytics, and straight-through processing have delivered tangible financial benefits while supporting scale and resilience.
These efficiencies are structural rather than cyclical, providing a durable foundation for future growth, while maintaining service quality and compliance.
Executing strategy and supporting national priorities
2025 marked a year of delivery across alinma's strategic priorities. The Bank continued to support key national objectives by expanding financing to priority sectors, supporting SMEs and entrepreneurs, and enabling project finance aligned with economic diversification. Growth in SME and corporate financing reflected both rising demand and the Bank's enhanced capability to serve complex client needs through integrated financing and transaction solutions.
At the same time, alinma continued to invest in innovation, digital platforms, and ecosystem partnerships, ensuring the Bank remains competitive, agile, and relevant as customer expectations evolve.
Momentum into 2026 and beyond
Looking ahead, alinma enters 2026 from a position of strength. The Bank's financial fundamentals are solid, its balance sheet is resilient, and its income base is increasingly diversified. The execution discipline demonstrated in 2025 provides a strong platform to accelerate innovation, deepen customer primacy, and deliver sustainable growth.
Our focus in the coming period will remain on prudent balance sheet expansion, disciplined capital management, and continued efficiency gains, while investing selectively in capabilities that support long-term value creation. With a clear strategic direction toward 2030, alinma is well positioned to capture growth opportunities, navigate market cycles, and deliver consistent returns for Shareholders.
In closing, 2025 was a year in which strategy translated into results. Through disciplined execution, financial strength, and continued innovation, alinma reinforced its position as a resilient, high-performing Islamic bank, well equipped to support the Kingdom's transformation and deliver sustainable growth in the years ahead.