RIYADH: Saudi-based Alinma Bank has posted a 31 percent surge in profits during the first nine months of 2022. The bank’s profit jumped to SR2.7 billion ($718 million) for the period ending Sept. 30, compared to SR2.1 billion in the same period the previous year, according to a bourse filing. The bank said that the results were driven by a 17 percent increase in total operating income for the period despite higher operating expenses of 5 percent. For the third quarter of 2022, Alinma’s net profit rose by 34 percent to SR989 million from SR738 million a year earlier.