Net profits of Alinma Bank grew by 70 percent to SR733 million in 2012 compared to last year’s profits of SR431 million.
According to data released by the bank, net profits during the fourth quarter of 2012 stood at SR208 million compared to SR136 million during the same quarter of 2011.
Commenting on the financial results of the bank for the period ending on Dec .31 2012, Abdulmohsin Al-Faris, the CEO of Alinma Bank, said the results have shown a considerable growth in all major bank activities, at both operational and financial levels.
The bank’s assets rose from SR36.78 billion in 2011 to SR54.01 billion in 2012, an increase of 47 percent, he said.
He said the total operating income in 2012 stood at SR1.82 billion, compared to SR1.38 billion in 2011, an increase of 32 percent, whereas net income from investing and financing activities in 2012 amounted to SR1.51 billion, compared to SR1.11 billion in 2011, an increase of 36 percent.
Alinma Bank CEO said the bank’s financing portfolio amounted to SR37.18 billion as at Dec. 31, 2012, compared to SR25.26 billion as at Dec. 31, 2011, an increase of 47 percent.
The bank’s customer deposits amounted to SR32.21 billion at the end of 2012, compared to SR17.77 billion for the previous year, an increase of 81 percent, he pointed out.
Alinma Bank profits rise 70% to SR733m
