Alinma Bank has announced the achievement of a net profit of SAR 488 million during the second quarter of 2017. This represents an improvement over the SAR 409 million net profit earned for the same period of the previous year, an increase of 19%. It also showed an increase of 16% over the SAR 421 million earned during the first quarter of 2017.
Speaking about the financial results, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that the results represented considerable growth in all major banking activities. He went on to detail the bank’s performance as follows:
- Assets rose to SAR 111,376 million as on June 30, 2017 compared to SAR 98,186 million as of same period of the previous year, an increase of 13%.
- Net Income for the half-year stood at SAR 910 million, compared to SAR 800 million for the same period of the previous year, an increase of 14%.
- The financing portfolio amounted to SAR 76,961 million as of June 30, 2017, compared to SAR 66,488 million as on the same period of the previous year, an increase of 16%.
- Customer deposits amounted to SAR 85,783 million as of June 30, 2017, compared to SAR 74,166 million as on the same period of the previous year, an increase of 16%.
- Earnings per share during the six month period of 2017 rose to 0.61 halalas, compared to 0.54 halalas for the same period of the previous year.
Mr. Al-Fares concluded that Alinma Bank maintained its growth pace and offers a comprehensive array of products and services to both its retail and corporate partners.