Alinma Bank Reports FY2024 Net Profit of SAR 5.83 Billion, Up 20.5%, as Total Assets Grow to SAR 276.8 Billion

Alinma Bank reported a full-year 2024 net profit of SAR 5.83 billion, equivalent to approximately 1.55 billion US dollars, in results announced on 29 January 2025. Net profit rose 20.5% year-on-year.

Alinma operates exclusively under Islamic banking principles, offering Murabaha, Ijara, and other Sharia-compliant products across its retail and corporate franchises.

BALANCE SHEET

Total assets grew 17% year-on-year to SAR 276.8 billion at 31 December 2024. The Sharia-compliant financing portfolio expanded 16.5% over the year.

Customer deposits grew 12.1% to SAR 210.5 billion.

PROFITABILITY RATIOS

Return on equity for the full year came in at 18.8%. Return on assets was 2.27%.

Management attributed the 20.5% profit increase to expansion in core banking activities.