Riyadh – Mubasher: Al Inma Bank’s profits retreated 16.8% year-on-year to SAR 312 million ($83.2 million) in the third quarter of 2016 from SAR 375 million ($100 million)

Total operating income rose 17% due to increase in the net income from financing and investments in addition to the increase in foreign exchange income, gain on investments and dividends income, according to a bourse filing on Sunday.

Net profits went up 2.58% to SAR 1.11 billion in the first nine months of 2016, compared to SAR 1.08 billion in the year-ago period.

Net income increased due to increase in total operating income by 4% mainly due to the increase in net income from financing and investments and the foreign exchange income, despite losses on investments, the statement said.