Alinma Bank reported a 35% rise in 2023 net profit to SAR 4.83 billion, compared to SAR 3.59 billion a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 6,066.47 | 7,654.51 | 26.2 % |
| Operating Income | 7,963.06 | 9,725.66 | 22.1 % |
| Total Provisions | (1197.70) | (1272.10) | (6.2 %) |
| Net Income | 3,599.14 | 4,839.21 | 34.5 % |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 1.44 | 1.94 | 34.5 % |
| EPS Diluted (Riyals) | 1.44 | 1.94 | 34.7 % |
Income from investments and financing increased mainly due to growth in financing and investments volume and higher profit rates.
The bank also posted higher net income due to a 22.1% increase in gross operating income. This was mainly due to higher net income from financing and investment, as well as fees and exchange income, which were partly offset by lower FVSI and other operating income.
The fourth-quarter net profit leapt 54% to SAR 1.32 billion from SAR 860.2 million in Q4 2022.
Meanwhile, the three-month bottom line fell by 0.3% quarter on quarter.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 1,667.81 | 2,054.17 | 23.2 % |
| Operating Income | 2,147.89 | 2,568.74 | 19.6 % |
| Debt Provisions | (435.79) | (324.30) | 25.6 % |
| Net Income | 860.28 | 1,320.34 | 53.5 % |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.34 | 0.53 | 53.5 % |
| EPS Diluted (Riyal) | 0.40 | 0.53 | 32.5 % |
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Assets | 200.44 | 236.72 | 18.1 % |
| Customer Deposits | 145.17 | 187.90 | 29.4 % |
| Financing Investments | 146.49 | 173.62 | 18.5 % |
Shareholders’ equity, with no minority interest and after excluding sukuk, stood at SAR 29.33 billion as of Dec. 31, 2023, compared to SAR 26.87 billion in the year-earlier period.
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