Alinma Bank announces the interim consolidated financial results for the period ended June 30, 2010 as follows:1.Net income for the second quarter amounted to SAR 3 million, compared to net income of SAR 68 million for the same quarter of previous year with a decrease of 96%, and compared to a net loss of SAR 75 million for the previous quarter.
2.Total operating income for the second quarter amounted to SAR 174 million compared to SAR 154 million for the same quarter of previous year with an increase of 13%
3.Net income from investing and financing activities for the second quarter amounted to SAR 162 million compared to SAR 153 million for the same quarter of previous year with an increase of 6%.
4.Net loss for the six months SAR 72 million, compared to net income of SAR 171 million for the same period of previous year.
5.Loss per share for the six months period amounted to SAR (0.05) compared to earnings per share of SAR 0.11 for the same period of previous year.
6.Total operating income for the six months SAR 257 million compared to SAR 332 million for the same period of previous year with a decrease of 23%
7.Net income from investing and financing activities for the six months SAR 229 million compared to SAR 331 million for the same period of previous year with a decrease of 31%.
8.Total assets amounted to SAR 24,948 million compared to SAR 16,613 million for the same period of previous year with an increase of 50%, investments amounted to SAR 1,701 million compared to SAR 2,428 million for the same period of previous year with a decrease of 30%, due from banks and other financial institutions amounted to SAR 10,646 million compared to SAR 12,977 million for the same period of previous year with a decrease of 18%,financing portfolio amounted to SAR 8,426 million compared to SAR 416 million for the same period of previous year with an increase of 1925%,and the customers deposits amounted to SAR 6,409 million compared to SAR 538 million for the same period of previous year with an increase of 1091%.
9.The reasons for the decrease in net results compared to the previous year are the lower rate of return on investments and the increase in operating expenses as a result of the actual launch of the banks activities and operating new branches and ATMs while there were no operating branches or ATMs during the same period of previous year.
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