Alinma Bank optimistic about growth prospects on mega projects: CEO

Alinma Bank is likely to record strong growth, driven by the mega projects unveiled during the Future Investment Initiative (FII) 2018 conference, chief executive Abdulmohsen Al-Fares told Argaam on Monday.

The bank will be bolstered by the higher cost of funding.

“Despite its potential positive impact, I hope the cost of funding will remain at the lowest end, especially for retail lending,” Al-Fares said on the sidelines of the FII.

Meanwhile, Alinma Bank will invest in mega projects, as the expected internal rate of return (IRR) would largely offset the cost of funding.

The Saudi banking industry, which applies the best governance standards, has a solid position and is a main pillar of the national economy, he added commenting on the sector performance.