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Al-Nashir Saudi profit grows 2.8% to 6.58B
Alistithm Bank achieved a growth of 2.8% in its net profits over the first nine months of the year, reaching 6.58 billion riyals, despite a 21.4% increase in credit loss provisions to 534 million riyals. Third-quarter profits rose by 1% year-on-year, with operating income reaching 11.12 billion riyals and significant increases in loans and deposits, while investments declined by 9.3%. The main reason for the profit growth is the expansion of the loan portfolio and increased returns on it. Operating expenses increased by 2.3%, but the rise in provisions led to a 7.1% decline in quarterly profits.
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