Alinma Bank announced the net profit of SAR 1,084 million for the nine months period ended September 2015 as compared to SAR 932 million during the corresponding period last year, registering a growth of 16%. Further the third quarter net profit was SAR 375 million, representing an improvement over the SAR 331 million net profit earned in the corresponding quarter of 2014, an increase of 13% and an increase of 3% over the SAR 365 million earned during the second quarter of 2015.
Speaking about the financial results for the period that ended on September 30, 2015, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the Q3 results represented considerable growth in all major banking activities. He went on to brief the bank’s performance as follows:
- Assets rose to SAR 82,388 million compared to SAR 75,458 million for the same period of the previous year, an increase of 9%.
- Total operating income for the third quarter of 2015 stood at SAR 708 million, compared to SAR 687 million for the same quarter of the previous year, an increase of 3%.
- Net income from financing and investment activities amounted to SAR 548 million, compared to SAR 529 million from the same quarter of the previous year, an increase of 4%.
- The financing portfolio amounted to SAR 52,971 million as of September 30, 2015, compared to SAR 50,219 million for the same time of the previous year, an increase of 5%.
- Customer deposits amounted to SAR 60,239 million, compared to SAR 53,388 million as of the same time of the previous year, an increase of 13%.
- Earnings per share for the nine months of 2015 rose to 73 halalas, compared to 63 halalas per share earned during the same period of the previous year.
Mr. Al-Fares concluded by saying that Alinma Bank has witnessed steady growth in all activities and offers a comprehensive array of outstanding products and services to both its retail and corporate partners (customers).