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Alinma Bank achieved Net Profit of SAR 1,451 million (30% growth)

Alinma Bank achieved Net Profit of SAR 1,451 million (30% growth)

25 Muharram 1439 - 15 October 2017 G

Alinma Bank has announced the achievement of a net profit of SAR 542 million during the third quarter of 2017. This represents an improvement over the SAR 312 million net profit earned for the same period of the previous year, an increase of 74%. It also showed an increase of 11% over the SAR 488 million earned during the second quarter of 2017.

 

Speaking about the financial results, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the  results represented considerable growth in all major banking activities. He went on to detail the bank’s performance as follows:

  • Assets rose to SAR 111.4 billion as on September 30, 2017 compared to SAR 102.9 billion as of same period of the previous year, an increase of 8%.
  • Net Income for the nine months stood at SAR 1,451 million, compared to SAR 1,112 million for the same period of the previous year, an increase of 30%.
  • The financing portfolio amounted to SAR 77.8 billion as of September 30, 2017, compared to SAR 69.3 billion as on the same period of the previous year, an increase of 12%.
  • Customer deposits amounted to SAR 87.2 billion as of September 30, 2017, compared to SAR 77.3 billion as on the same period of the previous year, an increase of 13%.
  • Earnings per share during the nine month period of 2017 rose to 97 halalas, compared to 75 halalas for the same period of the previous year.

 

Mr. Al-Fares concluded that Alinma Bank maintained its growth pace and offers a comprehensive array of products and services to both its retail and corporate partners.

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