Saudi's Bank AlJazira records $152.8mln profits in H1-21

Assets grew 4% to $25.57bln at the end of June this year from $24.49bln in the prior-year period

  
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

REUTERS/Faisal Al Nasser
Riyadh – Bank AlJazira achieved a surge of 64.8% in net profits after Zakat and tax to SAR 572.8 million in the first half (H1) of 2021, compared to SAR 347.4 million in H1-20.

Earnings per share stood at SAR 0.7 in H1-21, up from SAR 0.42 in H1-20, according to a bourse filing on Monday.

Clients’ deposits increased by 11% to SAR 70.69 billion in the January-June 2021 period from SAR 63.65 billion in the same period in 2020.

Assets grew 4% to SAR 95.89 billion at the end of June this year from SAR 91.86 billion in the prior-year period.

During the second quarter (Q2) of 2021, Bank AlJazira posted net profits of SAR 251.2 million, higher by 51.5% than SAR 165.8 million in Q2-20.

On a quarterly basis, the Q2-21 profits were lower by 21.8% than SAR 321.6 million in Q1-20.

Source: Mubasher

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