Jan 10 2012 |
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Al Jazira Bank announces the Annual Consolidated financial results for the Year ended 31/12/2011 (Twelve months)
Al Jazira Bank announces the Annual Consolidated financial results for the Year ended 31/12/2011 (Twelve months)1. Net income during the Fourth quarter was SR 110 million, compared to net loss SR 27 million for the same quarter in previous year.Compared to a net profit of SR66 million for the previous quarter with an increase of 67%.
2. Total operating income during the Fourth quarter reached to SR 330 million compared to SR 262 million for the same quarter in the previous year, with an increase of 26%.
3. Net special commission income during the fourth quarter was SR 197 million compared to SR 186 million for the same quarter in the previous year, with increase of 6%.
4. Net Profit during Twelve months period reached to SR 303 million, compared to SR 29 million for the previous year, with an increase of 945%.
5. Earnings per share during twelve months period reached to SR 1.01 compared to SR 0.10 for the previous year.
6. Total operating income during twelve months period reached SR 1,208 million, compared to SR 1,155 million for the previous year, with an increase of 5%.
7. Net special commission income during twelve months period was SR 781 million, compared to SR 717 million for the previous year, with an increase of 9%.
8. Total assets as of 31/12/2011 reached to SR 38,897 million, compared to SR 33,018 million for the previous year, with an increase of 18%. Investments reached to SR 5,397 million as of 31/12/2011 compared to SR 4,546 million for the previous year, with an increase of 19%. Loans and advances portfolio reached to SR 23,307 million as of 31/12/2011 compared to SR 18,704 million for the previous year, with an increase of 25%. Customer deposits reached to SR 31,159 million as of 31/12/2011 compared to SR 27,345 million for the previous year, with an increase of 14%.
9. Core banking activities have achieved significant and continuous growth, where the bank's assets have grown significantly. Accordingly, the increase in the net income is attributable to the increase in revenues from core banking activities, in addition to the decrease in operating expenses.
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