CEO: Alinma Bank’s bad loan ratio less than 1%

09/07/2014 Argaam

Alinma Bank’s non-performing loans (NPLs) ratio accounts for less than one percent of total portfolio, and is 180 percent covered by provisions, CEO Abdulmohsen Abdulaziz Al-Fares told Al-Arabiya TV.
 

Al-Fares deemed the retail sector as the future of growth in Saudi market, but it needs some time to mature, he said.


The bank’s retail portfolio grew to SAR 12 billion and is set to grow, he added.


The bank posted SAR 308 million net profit in the second quarter, compared to SAR 241.5 million in the same period of last year.

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