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Alinma Bank announced Net Profit of SAR 709 million for the First Quarter of 2019, with growth of 22%

Alinma Bank announced Net Profit of SAR 709 million for the First Quarter of 2019, with growth of 22%

17 Shaban 1440 H - 22 April 2019 G

Alinma Bank has announced the net profit of SAR 709 million for the first quarter of 2019. This represents an improvement over the SAR 582 million earned in the corresponding quarter of 2018, an increase of 22%. It also showed an increase compared to the SAR 661 million earned during the fourth quarter of 2018.

Speaking about the financial results for the quarter, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the Q1 results represented growth in all major banking activities. He went on to detail the bank’s performance as follows:

  • Assets rose to SAR 121,794 million compared to SAR 113,945 million for the same period of the previous year, an increase of 7%.
  • Total operating income during the first quarter of 2019 stood at SAR 1,290 million, compared to SAR 1,110 million for the same quarter of the previous year, an increase of 16%.
  • Net income from financing and investment activities amounted to SAR 993 million, compared to SAR 896 million for the same quarter of the previous year, an increase of 11%.
  • The financing portfolio amounted to SAR 85,877 million as of March 31, 2019, compared to SAR 79,013 million at the same time of the previous year, an increase of 9%.
  • Customer deposits amounted to SAR 92,261 million, compared to SAR 89,340 million at the same time of the previous year, an increase of 3%.

    Mr. Al-Fares concluded that Alinma Bank has witnessed steady growth in all activities and offers a comprehensive array of products and services including savings and investment products. In addition, the remittance services through the electronic channels and multi-currency card for serving retail, SME and corporate partners (customers). The bank also serves its partners through a kingdom-wide network of 158 branches, 4 sale centers and 1,507 ATMs. In addition, the Bank offers a variety of electronic services that allow customers to access their accounts and execute transactions round the clock through the self-internet banking services www.alinma.com, Alinma Phone 8001208000 and Alinma Mobile.

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