Bank Aljazira Announces Earnings Results for the Quarter Ended March 31, 2017
Bank AlJazira announced earnings results for the quarter ended March 31, 2017. For the quarter, the company reported net profit of SAR 216 million against SAR 381 million a year ago. Total profit operation income investments were SAR 630 million against SAR 773 million against a year ago. Net profit special commission income investments were SAR 434 million against SAR 370 million a year ago. Earnings per share were SAR 0.42 against SAR 0.73 a year ago. Net income has decreased by 43% mainly due to decrease in operating income by 19%. This is mainly due to the fact that in comparative period income was higher as result of sale of a land owned by the bank which resulted in gain amounting to SAR 209 million, offset by an increase in net special commission income and net trading income.