Al-Inmaa Bank announced its net profits at the end of the third quarter of 2017, which amounted to 1,451 million riyals during the first nine months, compared to 1,112 million riyals for the same period in 2016, an increase of 339 million riyals, representing approximately 30 %. Net profits for the third quarter of 2017 amounted to 542 million riyals, compared to 312 million riyals for the of the previous year, an increase of 74 %, and compared to 488 million riyals for the previous quarter, an increase of 11%.
Commenting on the financial results for the period ending September 30, 2017, the CEO and Managing Director of Al-Inmaa Bank, Mr. Abdulmohsen bin Abdulaziz Al-Faris, that the third-quarter results for this year showed remarkable growth in the bank’s core activities, with the bank’s assets growing to 111.4 billion riyals compared to 102.9 billion riyals for the same period last year, an increase of 8 %, Al-Faris added that the financing portfolio as of September 30, 2017, exceeded 77.8 billion riyals, compared to 69.3 billion riyals at the end of the same period the previous year, representing a 12% increase, Partner deposits exceeded 87.2 billion riyals, compared to 77.3 billion riyals at the end of the same period the previous year, representing a growth rate of 13 %. Earnings per share also rose by 30 % during the first nine months of 2017 to 0.97 riyals per share, compared to 0.75 riyals in the same period of the previous year.
Al-Faris added that, praise be to God, the bank has been growing steadily across all its core activities since its establishment and has built a distinguished customer base across various sectors. Today, Al-Inmaa Bank offers a wide and diverse range of distinguished banking products and services to its partners, including individuals, companies, and small and medium-sized enterprises, The bank also has a distinguished network of 139 branches for men and women, spread across various regions of the Kingdom, Al-Inmaa Bank offers a range of modern electronic services that allow customers to access their accounts and conduct banking transactions around the clock through Al-Inmaa Self-Service.
