CEO: Alinma Bank sets 180% provisions for bad loans

23/10/2014 Argaam

Alinma Bank set aside bad loan provisions of around 180 percent, CEO Abdulmohsen Al-Fares told Al-Arabiya TV.
 

The bank’s bad debts account for less than one percent of its portfolio, and it has increased its provisions by SAR 60 million in the third quarter, he added.


The loan-to-deposit ratio decreased from 110 to 94 percent this year, and is planned to reach the regulatory benchmark of 85 percent in 2016.


Abdulmohsen said his bank had one of the best asset quality levels in the kingdom. 

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