Alinma Bank achieves net profits in Q3

Assets grew by 12.8% year-on-year

  
A man leaves an automated teller machine (ATM) outside Alinma Bank in Riyadh, Saudi Arabia, April 25, 2016.

A man leaves an automated teller machine (ATM) outside Alinma Bank in Riyadh, Saudi Arabia, April 25, 2016.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Alinma Bank recorded net profits worth SAR 738.1 million in the third quarter (Q3) of 2021, higher by 17% than SAR 629.2 million in Q3-21.

On a quarterly basis, then net profits were 3.9% higher than SAR 710.3 million in Q2-21, according to the initial financial results on Monday.

In the first nine months of 2021, the Saudi lender registered SAR 2.09 billion net profits, rising by 32.9% from SAR 1.57 billion in the same period last year.

Earnings per share amounted to SAR 1.03 at the end of September 2021, compared to SAR 0.79 a year ago.

Assets grew by 12.8% year-on-year (YoY) to SAR 166.8 billion in the January-September 2021 period from SAR 147.85 billion.

Clients’ deposits increased by 4.7% annually to SAR 116.65 billion during the nine-month period this year from SAR 111.31 billion.

Source: Mubasher

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