Alinma Bank has announced the achievement of a net profit of SAR 365 million during the second quarter of 2015. This represents an improvement over the SAR 308 million net profit earned in the corresponding quarter of 2014, an increase of 18%. This was also an increase over the SAR 344 million earned during the first quarter of 2015.
Speaking about the financial results for the period that ended on June 30, 2015, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the Q2 results represented considerable growth in all major banking activities. He went on to detail the bank’s performance as follows:
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Assets rose to SAR 81.8 billion compared to SAR 70.6billion for the same period of the previous year, an increase of 16%.
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Total operating income during the second quarter of 2015 stood at SAR 845million, compared to SAR 611million for the same quarter of the previous year, an increase of 38%.
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Net income from financing and investment activities amounted to SAR 610 million, compared to SAR 502million from the same quarter of the previous year, an increase of 22%.
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The financing portfolio amounted to SAR 52,999 million as of June 30, 2015, compared to SAR 49,009 million as of June 30, 2014, an increase of 8%.
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Customer deposits amounted to SAR 60,458 million as of June 30, 2015, compared to SAR 48,976 million as of June 30, 2014, an increase of 23%.
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Earnings per share during the six month period of 2015 rose to 0.48 halalas, compared to 0.40 halalas per share during the same period of the previous year.
Mr. Al-Fares concluded that Alinma Bank has witnessed steady growth in all activities and offers a comprehensive array of products and services to both its retail and corporate partners (customers).