Saudi’s Alinma Bank Announces its Financial Results for the First Quarter of 2022, Recording a 29% Net Profit Increase 

Saudi-based Alinma Bank has reported a 29% increase in net profit for the first quarter of 2022 (1Q 2022) from SAR 641.8 million (171.1 million) in the first quarter of 2021 (1Q 2021) to SAR 824.7 million (USD 219.86 million), coupled with a 33.2% quarterly growth from SAR 619.13 million (USD 165.06 million) in the fourth quarter of 2021 (4Q 2021).

Why it Matters?

The positive results witnessed by the bank are attributed to total operating income rising 12.5%, as a decrease in fee income triggered an increase in net financing and investment income, FVIS investment income, exchange income, and other operations income.

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