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ALINMA BANK-
Alinma Bank’s bottomline rose 34.5% y-o-y in FY 2023 to SAR 4.8 bn, according to a disclosure to Tadawul yesterday. Its total financing and investment income jumped 74% y-o-y to SAR 13.2 bn in the same period on the back of higher investments and financing volume and a rise in income rates.
Dive deep: The bank’s assets rose 18.1% y-o-y last year to SAR 236.7 bn, while investments were up 12.3% y-o-y to SAR 43.2 bn. Client deposits were up 29.4% y-o-y to SAR 187.9 bn.
ARAB NATIONAL BANK-
Arab National Bank (ANB)’s net income rose 32.6% y-o-y in FY 2023 to SAR 4.1 bn in FY 2023 on the back of an increase in commission income and other operating income, according to a disclosure to Tadawul. Net income from financing and investments rose c. 27% y-o-y to c. SAR 7.1 bn in the same period due to a rise in net loans, advances portfolio, and an increase in interest rates.
ANB’s assets rose c. 3.8% y-o-y last year to c. SAR 220.7 bn, while their investments were up c. 13.8% to SAR 46.7 bn. Client deposits grew 7.1% y-o-y in the same period to SAR 165.9 bn.
