2012-01-16 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: The Riyadh-based Tadawul index dipped insignificantly to 6,492.4 points. Sabic, the petrochemical and metals producer, recovered some ground (up 0.27% at SR94.50). Alinma Bank fell one per cent to SR9.60. Alinma Bank shares outperformed the market in 2011 and the share is on the way to fulfil a bullish flag from a chart-technical perspective. Earlier in the day, Alinma reported interim results for 2011. In en eMailed statement, Alinma said: "Net income for the fourth quarter amounted to SR136m, compared to net income of SR67m for the same quarter of previous year with an increase of 103%, and compared to a net income of SR122m for the third quarter with an increase of 11%." Net income for the year 2011 reached SR431m, compared to net income of SR15m for the previous year registered an increase of 2,773%. The Islamic bank identified "significant growth in the core banking" activities" for the profit surge.  

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