Alinma Bank (4030) reported a net profit increase of about 19% YoY in the third quarter of this year, totaling approximately SAR 1.5 billion.
Details
The bank’s strong quarterly profits came as a result of a nearly 11% YoY growth in total operating income due to increases in net income from financing and investment, along with higher foreign currency exchange income.
So what
Total income from Alinma’s special commission of financing rose about 19% in the last three months to SAR 3.6 billion.
The bank benefited from a growth in the volume of financing and investment assets and increased profit rates.
On the other hand, the board of directors decided to distribute SAR 745.67 million in cash dividends for the third quarter, with a per-share distribution of SAR 0.3, after deducting Zakat.
The dividends are due on November 7 and will be paid on November 21.
Some context
The bank’s net profit for the first nine months of this year grew by over 22% YoY, reaching SAR 4.3 billion.
Earnings per share jumped to SAR 1.62, compared to SAR 1.35 in the same period last year.
