Thursday, Oct 13, 2011
(This story was originally published Wednesday.)
RIYADH (Zawya Dow Jones)--Saudi-based Bank Al Jazira (1020.SA) said Wednesday its third-quarter net profit increased sharply to 66 million Saudi riyals ($17.6 million) from SAR22 million a year earlier due to lower operating expenses.
Earnings per share for the first nine months of the year rose to SAR0.64 from SAR0.19, while third-quarter operating income rose 0.34% to SAR294 million, the lender said in a statement posted on the Saudi bourse website.
Al Jazira said net lending income, or special fee net income, rose 20% to SAR210 million in the three months to September.
The bank's loans and advances portfolio rose 19% by the end of the quarter compared with the year earlier period, to stand at SAR21.8 billion, while customer deposits increased 35% to SAR30.6 billion.
Total assets at the end of September were up 26% at SAR37.6 billion.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
(END) Dow Jones Newswires
13-10-11 0404GMT
