Sunday, Dec 27, 2009
RIYADH (Zawya Dow Jones)--Bank Al Jazira's (1020.SA) board of directors elected Taha Al Kuwaiz to a three-year term as its new chairman, the bank said Saturday in a statement on the Saudi bourse Web site.
Al Kuwaiz, previously the acting chairman, is the chief executive of the Riyadh-based online trading firm Derayah Financial. The veteran banker was the deputy general manager of the government-owned National Commercial Bank, and a director at the Saudi Arabian Monetary Agency, the kingdom's central bank, according to a biography on Derayah's Web site.
Bank Al Jazira's net profit for the third quarter of 2009 rose by 14% to 70 million Saudi riyals ($18.7 million) compared with a year ago.
The bank's shares closed down 0.76% Saturday at SAR19.60 in a broadly positive market.
-By Mohammed Sergie, Dow Jones Newswires; +9714 446-1698; mohammed.sergie@dowjones.com
Copyright (c) 2009 Dow Jones & Co.
(END) Dow Jones Newswires
27-12-09 0345GMT
