Net advances grew 15.9% YOY and 3.2% QOQ to SAR 195.9 Bn in 3Q24, whereas Customer deposits grew 16.0% YOY and 1.8% QOQ to SAR 209.1 Bn in 3Q24. Asset quality remained stable as the NPL ratio stood unchanged at 0.8% in 3Q24 compared to 2Q24.

Net advances grew 17.4% YOY and 5.1% QOQ to SAR 189.9 Bn in 2Q24, whereas Customer deposits grew 15.5% YOY and 8.7% QOQ to SAR 205.4 Bn in 2Q24.

Alinma Bank (ALINMA/ The Bank) reported a 35.6% YOY growth in net profit to SAR 1,315 Mn in 1Q24, in line with our estimate of SAR 1,335 Mn.

Alinma Bank (ALINMA/ The Bank) reported a 53.5% YOY growth in net profit to SAR 1,320 Mn in 4Q23, in line with our estimate of SAR 1,340 Mn.

Alinma Bank (ALINMA/ The Bank) reported a 33.9% YOY increase in net profit to SAR 1,324 Mn in 3Q23, in line with our estimate of SAR 1,290 Mn.

Alinma Bank (ALINMA/ The Bank) reported 32.4% YOY increase in net profit to SAR 1,225 Mn in 2Q23, higher than our estimate of SAR 1,076 Mn. The rise in net profit is primarily driven by an increase in funded and non-funded income partially offset by an increase in operating expenses, impairment and zakat.

Alinma Bank (ALINMA/ The Bank) reported 17.6% YOY increase in net profit to SAR 970 Mn in 1Q23, lower than our estimate of SAR 1,013 Mn.

Alinma Bank reported a significant increase in net profit to SAR 925 Mn in 2Q22 from SAR 710 Mn in 2Q21, beating our estimate of SAR 874 Mn.