The financial statements of Alinma Bank showed that the bank’s profits in the second quarter of this year decreased by 15.4% compared to the profits of the corresponding period of 2019.

According to the results of the bank for the Saudi market (Tadawul) today, Wednesday, the profits for the period amounted to 572 million riyals, compared to the profits for the second quarter of 2019 of 676 million riyals. p>

The bank said in a statement to the Stock Exchange that despite the increase in net income from financing and investments by 5%, net profit for the current quarter decreased due to a decrease in total operating income by 1.3% .

He explained that the reason for the decrease in total operating income is due to the decrease in operating fee income and the income assessment of investments carried at fair value through the income statement.

The decrease in quarterly profits was attributed to the increase in total operating expenses, mainly due to the increase in credit allocations, salary expenses, and general and administrative expenses.

(Fun Knowledge of Knowledge)