- Alinma Bank‘s third-quarter profit reached 1.59 billion riyals, a 1.3% increase year-over-year, surpassing the estimated 1.54 billion riyals.
- Operating income rose to 2.96 billion riyals, marking a 5.3% year-over-year growth, exceeding the estimate of 2.93 billion riyals.
- Impairments amounted to 256.3 million riyals, a 23% increase year-over-year, slightly above the estimated 255.8 million riyals.
- Pretax profit grew by 1.3% year-over-year to reach 1.78 billion riyals, aligning closely with the estimate of 1.77 billion riyals.
- Total assets surged to 307.21 billion riyals, reflecting a 15% year-over-year growth, surpassing the estimated 283.13 billion riyals.
- Investments increased to 52.15 billion riyals, an 11% year-over-year rise.
- Net loans expanded by 15% year-over-year to 225.68 billion riyals, slightly above the estimate of 225.36 billion riyals.
- Total deposits rose to 234.62 billion riyals, representing a 12% increase year-over-year, slightly under the estimate of 236.02 billion riyals.
- The bank cited higher income from investments and financing as well as increased fee and other operating income.
- There was a reported decrease in exchange income and fair value income through income statement (FVIS).
- Analyst recommendations include 12 buy ratings and 8 hold ratings, with no sell ratings.
A look at Alinma Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Alinma Bank, a Shariah law-compliant commercial Islamic bank, appears to have a promising long-term outlook based on the Smartkarma Smart Scores. With solid scores across the board in Value, Dividend, Growth, Resilience, and Momentum, the bank seems to be well-positioned for future success. The strong scores in these key factors indicate a positive overall outlook for Alinma Bank, showcasing its potential for sustainable growth and value creation in the market.
Investors looking for a banking institution with a strong foundation and growth potential may find Alinma Bank an attractive prospect based on its impressive Smart Scores. With consistently high scores across multiple important aspects, including value, dividend, growth, resilience, and momentum, Alinma Bank demonstrates its capability to thrive and adapt in the dynamic financial landscape. The combination of these positive scores suggests that Alinma Bank is on a solid trajectory for long-term success in the banking sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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