Riyadh – Mubasher: Al Inma Bank on Sunday stated that its net profits surged 73.72% year-on-year in the third quarter of 2017.
Net profits reached SAR 542 million in Q3-17, compared to SAR 312 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits levelled up 11.07%.
The Saudi bank attributed the year-on-year net profits increase to the growth in operations income by 28% due to the rise in income from financing and investments, as well as growth in gains of investments.
At the level of the first nine months in 2017, the Tadawul-listed bank profits grew 30.49% to reach SAR 1.45 billion, from SAR 1.1 million in the corresponding period in the year before.
Al Inma Bank’s stock shed 0.92%, closing at SAR 17.24 on Sunday.
