Alinma Bank announces the interim consolidated financial results for period ended March 31, 2011 (three months) as follows:
1.Net income for the first quarter amounted to SAR 70 million, compared to net loss of SAR 75 million for the same quarter of previous year and compared to a net income of SAR 67 million for the fourth quarter of 2010 with an increase of 4.5%.
2.Total operating income for the first quarter amounted to SAR 262 million compared to SAR 82 million for the same quarter of last year with an increase of 219%.
3.Income from investing and financing activities for the first quarter amounted to SAR 239 million compared to SAR 67 million for the same quarter of previous year with an increase of 256%.
4.Earning per share for the three months amounted to SAR 0.05 compared to loss per share of SAR 0.05 for the same period of previous year.
5.Total assets as at March 31, 2011 amounted to SAR 29,758 million compared to SAR 18,833 million as at March 31, 2010 with an increase of 58%, investments as at March 31, 2011 amounted to SAR 2,935 million compared to SAR 1,567 million as at March 31, 2010 with an increase of 87%, due from banks and other financial institutions as at March 31, 2011 amounted to SAR 3,472 million compared to SAR 12,384 million as at March 31, 2010 with a decrease of 72%, financing portfolio as at March 31, 2011 amounted to SAR 20,378 million compared to SAR 3,596 million as of March 31, 2010 with an increase of 467%, and the customers deposit as at March 31, 2011 amounted to SAR 11,314 million compared to SAR 2,975 million as at March 31, 2010 with an increase of 280%.
6.Increase in net income in the first quarter of 2011 compared to first quarter of 2010 was mainly due to significant growth in the core banking activities.
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