Riyadh – Mubasher: Alinma Bank reported a 35.55% year-on-year (YoY) surge in net profit to SAR 1.31 billion in the first quarter (Q1) of 2024 from SAR 969.90 million.
The earnings per share (EPS) hit SAR 0.64 in Q1-24, up from SAR 0.46 in Q1-23, according to the interim financial results.
Clients’ deposits surged 18.15% YoY to SAR 188.98 billion in the three-month period that ended on 31 March 2024, versus SAR 159.94 billion.
Assets rose 14.55% YoY to SAR 244.85 billion in the January-March 2024 period from SAR 213.74 billion, while investments increased by 13.91% YoY to SAR 45.33 billion in the same period from SAR 39.80 billion.
Quarter-on-quarter (QoQ), the bank’s net profit inched lower by 0.42% in Q1-24 from SAR 1.32 billion.
In 2023, Alinma Bank logged a 34.45% YoY surge in net profits to SAR 4.83 billion, against SAR 3.59 billion.
