13 Hrs
Source:
الاقتصادية
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Al-Inma Bank profits dip amid higher provisions
Alinma Bank’s profits declined in the third quarter of the year, reaching 1.59 billion Saudi Riyals, representing a 0.2% decrease compared to analyst expectations. This marks the first quarterly decline since 2020. The decrease was due to lower income from service fees and investment revaluations, alongside a 56% increase in credit loss provisions, which totaled 400 million Riyals, despite growth in financing and investment income. The rise in credit loss provisions put pressure on profits, even as asset growth and improved income from foreign currency conversions provided some support.
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