Riyadh – Mubasher: Saudi Arabia-based Alinma Bank on Thursday reported a 27.25% year-on-year hike in its net profits during the second quarter of 2018.
Alinma Bank’s registered a net profit of SAR 621 million in Q2-18, compared to SAR 488 million during Q2-17, according to a bourse filing.
Quarter-on-quarter, profits rose 6.7% in the period between April to June, from SAR 582 million.
The Saudi lender attributed the increase in its second-quarter net profits to a 22% growth in total operating income, coupled with a rise in income generated from investments and financing.
At the level of first six months of 2018, Alinma Bank logged 1.2 billion in profits, compared to SAR 910 million in H1-17.
The Tadawul-listed lebder ascribed the first-half profit hike to a 16% rise in total operating income.
Alinma Bank’s financing and investment revenues jumped 13% to SAR 2.3 billion in the January-June period of 2018, from SAR 2.03 billion in the same period a year earlier.
By 10:12 am Saudi time, Alinma Bank’s stock increased 0.32%, reaching SAR 22.18.
