Alinma Bank Sees 30% Rise in Net Profit during First Half of 2014

Alinma Bank has announced that it achieved a net profit of SAR 600 million for the six-month period thatended on June 30, 2014, a30% increase over theSAR 463 million net profit earned in the correspondingperiod of 2013.The net profit for the second quarter of 2014 was SAR 308 million, a 28% increase over the SAR 241 million earned in the corresponding quarter of 2013. Compared to the SAR 293 million earned the first quarter of 2014, the Q2 result represented growth of 5%.

Speaking about the financial results for the period that ended on June30, 2014, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the Q2results represented considerable growth in all major banking activities. He gave the details of the bank’s performance as follows:

- Assets rose to SAR 70.6billion compared to SAR 57.9billion for the same period of the previous year, an increase of 22%. The result also reflected significant growth compared to theSAR 65.4 billion in total assets the bank had at the end of Q1 2014.

- Total operating income during the second quarter of 2014 stood at SAR 611million, compared to SAR 559million for the same period of the previous year, an increase of 9%.

- Net income from financing and investment activities amounted to SAR 502 million, compared to SAR 457million from the same quarter of the previous year, an increase of 10%.

- The financing portfolio amounted to SAR 49billion as ofJune 30, 2014, compared to SAR 41.5billion for the same period of the previous year, an increase of 18%.

- Customer deposits amounted to SAR 48.9billion, compared to SAR 36.4billion for the same period of the previous year,an increase of 34%.

- Earnings per share for the first six month period of 2014 rose to 40halalas, compared to 31halalas per share during the same period of the previous year, an increase of 29%.

Mr. Al-Fares concluded by saying that Alinma Bank has witnessed steady growth in all activities and offers a comprehensive array ofbanking products and services to both its retail and corporate partners (customers). He also noted that the bank’s branch network has continued to expand rapidly with the current number of branches standing at 96 locations across the kingdom.

The bank also provides a variety of electronic services that allow bank partners to access their accounts and execute transactions around-the-clock. These include Alinma Internet (www.alinma.com), Alinma Mobile, Alinma Phone (8001208000), Alinma’s smartphone application (Apple, Android, Windows Phone & BlackBerry compatible) and its network of 915 ATMs.