Riyadh – Mubasher: Alinma Bank achieved a 22.27% increase in net profit to SAR 4.30 billion during the first nine months (9M) of 2024 compared with SAR 3.51 billion in 9M-23.
The earnings per share (EPS) rose to SAR 1.62 as of 30 September 2024 from SAR 1.35 in the year-ago period, according to the income statements.
Customer deposits totalled SAR 209.14 billion at the end of September this year, marking a 16.03% annual surge from SAR 180.23 billion.
The total assets grew by 14.78% to SAR 266.98 billion as of 30 September 2024 compared with SAR 232.58 billion in the same 9M a year earlier.
In addition, the bank’s investments soared by 14.56% to SAR 46.93 billion during January-September 2024 from SAR 40.97 billion in the same period last year.
Financial Results for Q3
During the third quarter (Q3) of 2024, Alinma Bank witnessed an 18.70% annual increase to SAR 1.57 billion worth of net profits compared with SAR 1.32 billion.
On a quarterly basis, the net profits in Q3-24 were 10.93% higher than SAR 1.41 billion in Q2-24.
Dividends
The board members of Alinma Bank decided, during the 23 October meeting, to distribute cash dividends amounting to SAR 745.67 million to the shareholders for Q3-24.
The bank will pay out SAR 0.30 per share after Zakat, representing 3% of the share nominal value, for 2.48 billion eligible shares.
Alinma Bank has set the eligibility and distribution dates as 7 and 21 November, respectively.
It is worth noting that the Saudi lender registered a growth in net profit to SAR 2.73 billion in the first half (H1) of 2024, while its customer deposits grew to SAR 205.35 billion.
The board members also approved to pay cash dividends after Zakat for Q2-24 at a total value of SAR 621.37 million.
