Alinma Bank has announced that it achieved a net income of SAR 196 million during the third quarter of 2012. This compares to a net income of SAR 122 million for the same period of the previous year, and to the SAR 179 million that was earned in the second quarter of 2012.
Commenting on the financial results for the period ended September 30, 2012, Mr. Abdulmohsen Al-Fares, the CEO of the bank, explained that the results showed strong growth in the major activities of the bank. The bank’s financial results for the quarter can be summarized as follows:
- Total assets amounted to SAR 49,853 million, compared to SAR 33,849 million during the same period of the previous year, an increase of 47%.
- Total operating income rose to SAR 459 million, compared to SAR 332 million during the same period of the previous year, an increase of 38%.
- Net income from major activities grew to SAR 407 million, compared to SAR 299 million in same period of the previous year, an increase of 36%.
- On September 30, 2012 the financing portfolio amounted to SAR 34,999 million compared to SAR 24,064 million on the same date in 2011, an increase of 45%.
- Customer deposits amounted to SAR 28,569 million, compared to SAR 15,851 million in the third quarter of 2011, an increase of 80%.
Mr. Al-Fares also noted that the bank continued its rapid expansion during the quarter, with growth in the number of the bank’s branches, ATMs, and both corporate and retail products and services.
Currently, Alinma serves its partners through more than 79 branches for men and women across the Kingdom. The bank also offers a full range of 24/7 electronic services including Alinma Internet (www.alinma.com), Alinma Phone (8001208000), Alinma Mobile and a network of 585 ATMs kingdom-wide.