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Alinma Bank Net Profits Rise 17%  in First Quarter of 2015

Alinma Bank Net Profits Rise 17% in First Quarter of 2015

20 Jumada II 1436 - 09 April 2015 G

Alinma Bank has announced the achievement of a net profit of SAR 344 million during the first quarter of 2015. This represents an improvement over the SAR 293 million net profit earned in the corresponding quarter of 2014, an increase of 17%. This was also an increase over the SAR 332 million earned during the fourth quarter of 2014.

Speaking about the financial results for the period that ended on March 31, 2015, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the Q1 results represented considerable growth in all major banking activities. He went on to detail the bank’s performance as follows:

  • Assets rose to SAR 83,685 million compared to SAR 65,444 million for the same period of the previous year, an increase of 28%. The result was also an improvement over the SAR 80,862 million recorded during the fourth quarter of 2014.
  • Total operating income during the first quarter of 2015 stood at SAR 730 million, compared to SAR 600 million for the same quarter of the previous year, an increase of 22%.
  • Net income from financing and investment activities amounted to SAR 550 million, compared to SAR 513 million from the same quarter of the previous year, an increase of 7%.
  • The financing portfolio amounted to SAR 55,015 million as of March 31, 2015, compared to SAR 45,811 million for the same period of the previous year, an increase of 20%.
  • Customer deposits amounted to SAR 61,562 million, compared to SAR 45,140 million for the same period of the previous year, an increase of 36%.
  • Earnings per share during the first quarter of 2015 rose to 0.23 halalas, compared to 0.20 halalas per share during the same quarter 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). The bank serves its partners through a kingdom-wide network of 105 branches and 1050 ATMs.

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