Riyadh – Mubasher: The net profits of Bank Aljazira plunged by 14.40% to SAR 740.70 million in the first nine months (9M) of 2023 from SAR 865.30 million in 9M-22.
The Saudi lender reported clients’ deposits valued at SAR 90.64 billion in 9M-23, higher by 10.17% year-on-year (YoY) than SAR 82.28 billion, according to the initial financial results.
Earnings per share (EPS) hit SAR 0.86 in January-September 2023, down from SAR 1.01 in 9M-22.
The assets widened by 17.21% to SAR 129.25 billion in 9M-23 from SAR 110.27 billion a year earlier, while the investments climbed by 10.53% to SAR 36.48 billion from SAR 33 billion.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the listed bank logged net profits worth SAR 276 million, higher by 18.61% than SAR 232.70 million in the year-ago period.
Quarter-on-quarter (QoQ), the profits in Q3-23 grew by 5.91% from SAR 260.60 million in the three-month period that ended on 30 June 2023.
