Alinma Bank's half-year profit surges 29% to $465m

RIYADH: Saudi-based Alinma Bank has recorded a 29 percent profit hike during the first half of 2022, propelled by higher operating income.

The bank’s first-half profit jumped to SR1.7 billion ($465 million), compared to SR1.3 billion in the prior-year period, according to a bourse filing.

The bank said that the results were driven by a 14.8 percent increase in total operating income for the period despite higher operating expenses of 2.5 percent.