Riyadh – Mubasher: Bank Aljazira posted a 47.25% year-on-year (YoY) surge in net profit to SAR 300.40 million in the first quarter (Q1) of 2024 from SAR 204 million.
Earnings per share (EPS) hit SAR 0.29 in Q1-24, up from SAR 0.20 in Q1-23, according to the interim financial results.
Assets rose by 13.72% YoY to SAR 135.82 million in the three-month period that ended on 31 March 2024 from SAR 119.43 million.
Clients’ deposits grew 11.97% YoY to SAR 97.26 million in January-March from SAR 86.86 million.
On the other hand, investments declined by 5.73% YoY to SAR 33.97 million in Q1-24 from SAR 36.04 million.
Quarter-on-quarter (QoQ), the bank’s net profit increased by 7.55% in Q1-24 from SAR 279.30 million in the previous quarter.
In 2023, Bank Aljazira posted an 8.03% YoY decline in net profit to SAR 1.02 billion from SAR 1.10 billion.
