Alinma Bank announced SAR 1,966 million net profit for the year 2020

Alinma Bank has announced net profit at SAR 1,966 million for the year ended 2020 compared to SAR 2,535 million for 2019.  The decrease in net profit was mainly due to the increase in the provision for the credit losses and the higher investment revaluation losses. Despite challenges presented by the COVID-19 crisis, and an overall impact on the global and local economy, Alinma Bank posted strong operational performances across 2020, with a number of key financial indicators showing double digit percentage growth.

Speaking about the bank’s 2020 financial results, Alinma Bank CEO, Mr. Abdullah Ali AlKhalifa, lauded the bank’s successful efforts to navigate the many challenges and uncertainties of the past year, noting that across several financial metrics, Alinma saw all-time high results.  He went on to share noteworthy increases in the following:

  • During 2020, the bank's assets rose to SAR 156,877 million from SAR 131,839 million in 2019, an increase of 19%.
  • Total operating income for 2020 stood at SAR 5,734 million, compared to SAR 5,610 million for 2019, an increase of 2.2%.
  • Net income from financing and investments for 2020 amounted to SAR 4,648 million, compared to SAR 4,323 million during 2019, an increase of 7.5%.
  • The financing portfolio amounted to SAR 111,196 million as at December 31, 2020, compared to SAR 94,801 million as at December 31, 2019, an increase of 17.3%.  
  • At the end of 2020, customer deposits amounted to SAR 119,454 million, compared to SAR 102,063 million in the previous year, an increase of 17%.

Mr. AlKhalifa also highlighted Alinma’s consistent growth and development over recent years, with the introduction of numerous new products and services for its retail, corporate, and SME partners (customers). He also noted that Alinma continued it branch expansion efforts in 2020, with the number of branches across the kingdom reaching 175 for men and ladies, by the end of the year.

In addition to its branches, Alinma provides comprehensive electronic channel services, which include Alinma Internet (, Alinma Mobile (mobile browser), Alinma Phone (8001208000), the Alinma smart device application, and a network of 1,551 ATMs.