Riyadh – Mubasher: Alinma Bank achieved a growth of 19.32% in profits during the second quarter of 2017, compared to the same period a year ago.
The bank’s earnings increased to SAR 488 million in Q2-17 from SAR 409 million in Q2-16, according to a bourse statement issued on Tuesday.
Alinma Bank noted that the higher profits in Q2 resulted from a growth in gross revenues by 23% due to higher financing income and investments. Total operating expenses surged by 70%.
During the first six months of 2017, the bank reported a rise of 13.75% in net profits to SAR 910 million from SAR 800 million in the corresponding period a year ago.
At the stock level, Alinma Bank closed Tuesday’s session 1.08% lower at SAR 14.71.
