Riyadh – Mubasher: Alinma Bank disclosed its financial statements for the second quarter of 2019.

Net profits levelled up by 11.5% to SAR 676 million in Q2-19, compared to SAR 606 million in Q2-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday.

The rise in profits was attributed to the increase of total operating income by 11%, mainly due to the increase in net income from financing and investments, in addition to increasing in the income from FVIS Investment Partly offset by the lower-income from fees and dividends.

Total revenues advanced by 16% to SAR 1.37 billion during the three-month period between April and June, versus SAR 1.18 billion in the same period a year earlier.

For the first half of 2019, the Saudi-based bank posted a 12.02% year-on-year increase in profits, recording SAR 1.31 billion.

Revenues of Alinma Bank jumped by 16.8% to SAR 2.68 billion during the first six months of 2019, versus SAR 2.29 billion in H1-18.

The bank’s assets went up 5.74% year-on-year to SAR 123.4 billion by the end of June, while investments stood at SAR 21.2 billion over the same period.

Customer deposits increased by 4.3% to SAR 92.8 billion in H1-19, from SAR 88.9 billion in the same period of the prior year.

Profit per share registered SAR 0.88 during the six-month period between January and June, versus SAR 0.79 in the corresponding period a year ago.