Riyadh – Mubasher: Al Inma Bank posted on Monday a net profit of SAR 391 million ($104.3 million) in the first quarter of the fiscal year 2016, with a rise of 13.66% from SAR 344 million ($91.7 million) in the same period of 2015.
The bank’s Q1 profit is the biggest since inception in the second half of 2009, according to Mubasher calculations.
The bank attributed the rise to an 11% decline in total operating expenses triggered by lower provision for credit losses and higher net income from investment and financing activities, according to a bourse filing.
