Alinma Bank announced the achievement of a net profit of SAR 179 million during the second quarter of the current year (2012) compared to a net profit of SAR 102 million achieved during similar quarter in 2011 and SAR 150 million in the first quarter of 2012.
Speaking about the financial results for the period ended June 30, 2012, Mr. Abdulmohsen Bin Abdulaziz Al Fares, the CEO OF Alinma Bank, said that the results of the second quarter of this year show good growth in the main activities of the bank. The bank's assets increased by 37% reaching SAR 44.192 million, compared to SAR 32.347 million for the same period of the previous year and SAR 39.872 million for the first quarter of this year. Operations net total income for the second quarter of 2012 amounted to SAR 484 million, compared to SAR 307 million for the same quarter of 2011 with an increase of 58% and SAR 393 million for the first quarter of 2012.
Likewise, the net Profitfrommain activities during the second quarter of 2012 reached SAR 346 million, compared to SAR 278 million for the same quarter of previous year with an increase of 24% and SAR 330 million for the first quarter of 2012. Mr. Al Fares added that financing portfolio on June 30, 2012 amounted to SAR 30.034 million, compared to SAR 22.503 million for the same period of the previous year with an increase of 33% and SAR 27.607 million for the first quarter of this year. Mr. Al Fares also addedthatcustomer depositsreached SAR 25.964 million, compared to SAR 13.232 million for the same period of the previous year with an increase of SAR 96% and SAR 21.329 million for the first quarter of 2012.
Mr. Al Fares concluded that the bank is growing rapidly and offers many products and services for both retail and corporate sectors and that the branch network witnesses significant spread where the bank is offering its services through more than 77 branches for men and women in different regions of the Kingdom. Additionally, the bank offers multiple and modern electronic services which allow partners to access their accounts and execute banking transactions around the clock, including alinma internet (www.alinma.com), alinma phone (8001208000), alinma mobile and alinma 510 ATMs.