Riyadh – Mubasher: Saudi Arabia's Alinma Bank on Monday said that net profits jumped 25.16% by the end of 2018 from a year ago.

The bank’s net profits reached SAR 2.517 billion from January to December 2018, up from SAR 2.011 billion in the same period of 2017, according to a bourse statement.

The Saudi lender attributed the increase in annual profits to an 11% rise in operating income to SAR 4.845 billion for the whole of 2018, compared to SAR 4.373 billion during 2017.

The bank’s revenues for special commissions and investments went up 15% to SAR 4.89 billion in 12 months ended 31 December 2018 from SAR 4.25 billion in the period from January to December 2017.

Year-on-year, net income for special commissions and investments rose 8.7%, reaching SAR 3.79 billion from SAR 3.49 billion in 2017.

“For calculation of earnings per share (EPS), 10 million treasury shares have been excluded,” the statement added.

EPS amounted to SAR 1.69 last year against SAR 1.35 in 2017.

Alinma Bank’s stock inched up 0.08% to end Tuesday’s trading activities at SAR 24.58.