Riyadh – Mubasher: The sukuk portfolio of Al Inma Bank reached SAR 10 billion, including governmental sukuk at a value of SAR 7 billion, Abdulmohsen Al Fares, the bank’s CEO said.
Al Fares forecasted that the Kingdom’s banks will achieve higher profits during the third quarter of 2017, according to a phone interview with Al Arabiya Channel from Washington.
Al Fares attributed the growth in the bank’s profits in Q3-17 to the rise in loans more than SAR 10 billion, investments’ increase, and inaugurating new branches.
The Tadawul-listed bank’s profits surged 73.7% to reach SAR 542 million in Q3-17, compared to SAR 312 million in the corresponding period in the year earlier.
By 12:17 pm KSA, Al Inma Bank's stock increased 2.09% to reach SAR 17.60.
