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Alinma Bank Achieves Net Income of SAR 733 Million in 2012

Alinma Bank Achieves Net Income of SAR 733 Million in 2012

2 Rabia I 1434 H - 14 January 2013 G

Alinma Bank has announced that it achieved a net income of SAR 733 million during 2012, compared to SAR 431 million in 2011, an increase of 70%. For the fourth quarter of 2012, the bank achieved a net income of SAR 208 million, compared to SAR 136 million during the same quarter of 2011.

Speaking about the financial results for the period that ended on December 31, 2012, Mr. Abdulmohsen Al-Fares, the CEO of Alinma Bank, said that such results show a considerable growth in all major bank activities, both operational and financial.

He noted that the bank's assets rose from SAR 36,783 million in 2011 to SAR 54,014 million in 2012, an increase of 47%; total operating income in 2012 stood at SAR 1,826 million, compared to SAR 1,388 million in 2011, an increase of 32%; and net income from investing and financing activities in 2012 amounted to SAR 1,517 million, compared to SAR 1,112 million in 2011, an increase of 36%.

Mr. Al-Fares also added that the bank’s financing portfolio amounted to SAR 37,187 million as at December 31, 2012, compared to SAR 25,260 million as at December 31, 2011, an increase of 47%; and that customer deposits amounted to SAR 32,214 million at the end of 2012, compared to SAR 17,776 million for the previous year, an increase of 81%.

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