Alinma Bank reported net profit of SR 1.966 billion ($524.1 billion) for 2020, down 22 percent year-on-year (YoY), due to higher impairment charges and reevaluation losses.
The earnings decline came despite an 8 percent rise in net income from financing and investments.
Q4 2020 net profit dropped 23 percent YoY to SR 394 million.
Total shareholders’ equity, excluding minority interest, rose 8.8 YoY to SR 24.429 billion in 2020.
