Alinma Bank sees 31% surge in profit on higher operating income

RIYADH: Saudi-based Alinma Bank has posted a 31 percent surge in profits during the first nine months of 2022.

The bank’s profit jumped to SR2.7 billion ($718 million) for the period ending Sept. 30, compared to SR2.1 billion in the same period the previous year, according to a bourse filing.

The bank said that the results were driven by a 17 percent increase in total operating income for the period despite higher operating expenses of 5 percent.