Riyadh – Mubasher: Alinma Bank generated 28.48% year-on-year (YoY) higher net profits at SAR 3.51 billion in the first nine months (9M) of 2023, compared to SAR 2.73 billion.

Earnings per share (EPS) increased to SAR 1.69 in 9M-23 from SAR 1.33 a year earlier, according to the interim financial statements.

The clients’ deposits hit SAR 180.23 billion as of 30 September 2023, an annual leap of 36.49% from SAR 132.04 billion.

Assets jumped by 20.37% to SAR 232.58 billion in 9M-23 from SAR 193.22 billion in 9M-22, while investments grew by 7.07% to SAR 40.97 billion from SAR 38.26 billion.

Income Statements for Q3-23

The net profits stood at SAR 1.32 billion during the third quarter (Q3) of 2023, marking a 33.86% hike from SAR 989 million in the year-ago period.

On a quarterly basis, the Q3-23 profits increased by 8.06% from SAR 1.22 billion in Q2-23.

Dividends

The board members of Alinma Bank approved cash dividends after Zakat worth SAR 596.17 million, equivalent to 3% of the capital, for the three-month period that ended on 30 September 2023.

The Saudi lender will grant a dividend of SAR 0.30 per share for 1.98 billion eligible shares.

Eligibility and payment dates for the Q3-23 dividends will be 8 and 22 November 2023, respectively.

Last August, the bank disbursed the same amount as cash dividends for Q2-23.