ALINMA Bank has announced that it achieved net income of SR1,005 million during 2013 compared to the SR733 million it earned in 2012, an increase of 37 percent. For the bank's fourth fiscal quarter it achieved net income of SR280 million compared to the SR208 million earned during the corresponding quarter of 2011 and compared to the SR262 million earned during the third quarter of 2013. Abdulmohsen Al-Fares, CEO and managing director of Alinma Bank, said the bank's performance could be attributed to the considerable growth it experienced in all major banking activities. During 2013, the bank's assets rose to SR63.001 billion from SR54,014 million in 2012, an increase of 17 percent. That was also an increase over the SR59.15 billion in assets it posted during the third quarter of 2013. Total operating income in 2013 stood at SR2.28 billion compared to SR1.8 billion in 2012, an increase of 25 percent. During the fourth quarter of 2013, total operating income reached SR656 million compared to the SR490 million posted during same quarter of the previous year, an increase of 34 percent. That was also an increase over the SR542 million in total operating income recorded for the third quarter of 2013. Net income from financing and investment activities in 2013 amounted to SR1.83 billion compared to the SR1.52 billion recorded during 2012, an increase of 21 percent. – SG
