Alinma Bank’s profit rises 14% in H1

18/07/2017 Argaam Exclusive

 

Alinma Bank reported a net profit of SAR 910 million for the first half of 2017, a 13.75 percent year-on-year (YoY) increase, driven by a 29 percent rise in operating income, higher financing and investment income as well as FX gains. 



Financials (M)

Item 6m 2016 6m 2017 Change‬
Net Income from investments and financial activities 1,237.95 1,648.65 33.2 %
Operating Income 1,554.21 2,011.55 29.4 %
Total Provisions (37.73) (243.77) (546.0 %)
Net Income 800.44 909.55 13.6 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.32 0.36 13.6 %

The lender made a second-quarter net profit of SAR 488 million, an increase of 19.3 percent YoY, backed by higher FX income, investment gains, and lower banking service fees.  

 

When compared to the previous quarter, Q2 profit grew by 16 percent. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Net Income from investments and financial activities 626.79 834.22 33.1 %
Operating Income 819.89 1,006.70 22.8 %
Debt Provisions (24.70) (119.54) (384.0 %)
Net Income 409.12 488.22 19.3 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.16 0.20 19.3 %

Balance Sheet (B)

Item 6m 2016 6m 2017 Change‬
Assets 98.19 111.18 13.2 %
Customer Deposits 74.17 85.78 15.7 %
Financing Investments 66.49 76.96 15.7 %

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