Alinma Bank net income surges to SR122 million

13/10/2011 00:00 AST

Alinma Bank announced the interim consolidated financial results for the period ended Sept. 30. Net income for the third quarter amounted to SR122 million compared to net income of SR20 million for the same quarter of previous year with an increase of 510 percent, and compared to a net income of SR102 million for the previous quarter with an increase of 20 percent.

Total operating income for the third quarter amounted to SR332 million compared to SR194 million for the same quarter of previous year with an increase of 71 percent.

Net income from investing and financing activities for the third quarter amounted to SR308 million compared to SR188 million for the same quarter of previous year with an increase of 64 percent.

Net income for the nine months amounted to SR295 million compared to net loss of SR 52 million for the same period of previous year.

Earning per share for the nine-month period amounted to SR0.2 compared to loss per share of SR0.03 for the same period of previous year.

Total operating income for the nine months amounted to SR901 million compared to SR448 million for the same period of previous year with an increase of 101 percent.

Net income from investing and financing activities for the nine months amounted to SR831 million compared to SR416 million for the same period of previous year with an increase of 100 percent.

Total assets as of Sept. 30, 2011, amounted to SR33,999 million compared to SR23,774 million as of Sept. 30, 2010, with an increase of 43 percent, investments as of Sept. 30, 2011 amounted to SR 2,392 million compared to SR 2,500 million as of September 30, 2010, with a decrease of 4 percent, financing portfolio as of Sept. 30, 2011, amounted to SR24,064 million compared to SR13,755 million as of Sept. 30, 2010, with an increase of 75 percent, and the customer deposits as of Sept. 30, 2011, amounted to SR15,851 million compared to SR6,787 million as of Sept. 30, 2010, with an increase of 134 percent.

Increase in net income for the quarter and nine-month period ended Sept. 30, 2011, compared to the same period of last year was mainly due to significant growth in the core banking activities; with due consideration that certain comparative figures have been reclassified to facilitate comparison.

Arab News