Alinma Bank achieves strong operational performance in 2020 despite COVID-19 challenges

14/02/2021 Argaam

Alinma Bank's logo

Alinma Bank recorded a strong operational performance in 2020, despite the challenges posed by the coronavirus outbreak and its effects on the international and domestic economy, the bank said in a statement on fiscal year 2020 financial results.

 

A number of major financial indicators have shown double growth in percentage, the bank added.

 

Alinma Bank reported net profit of SAR 1.966 billion for 2020, down 22.4% year-on-year (YoY), due to higher impairment charges and reevaluation losses, according to data compiled by Argaam.

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