Alinma Bank’s profits rise to 5.8 billion riyals in 2024

The profits of the Development Bank in 2024 increased by 20.5% to 5.8 billion riyals, compared to 5.3 billion riyals in the year before last.
According to the company’s statement on Saudi Arabia’s circulation, the reason for the net income is due to the increase in the total income of operations by 12.5 %.
This is mainly due to the increase in net income from financing and investment, income in banking services, currency transfers, and income for investment at a fair value in the income list, and this is due to a decrease in income in other operations.
On the other hand, the total operating expenses increased by 2.1 % compared to the previous year, mainly due to the high salary expenses, public and administrative expenses, rents, and consumption, and this is due to a decrease in the expected credit losses expected.
Today, the Board of Directors of the Bank of Development recommended distributing cash dividends to the shareholders for the fourth quarter of the year 2024 AD.
He added that the total amount distributed is 746.144 million riyals, while the number of shares due to profits is 2,487,149,317 shares.
He stated that the share share of the distribution is 0.30 riyals after the zakat deduction, while the distribution rate to the nominal share value is 3%.
The right of profits for the shareholders of the bank, owners of shares, will be at the end of the day of the bank’s general assembly and those registered in the bank’s records at the Securities Deposit Center Company at the end of the second trading day following the date of the association, which will be announced later.
He noted the announcement of the date of the distribution later.
The bank obtained the central bank’s non -reluctance to recommend the council to distribute cash dividends to shareholders from the fourth quarter of the fiscal year 2024 AD.