Riyadh – Mubasher: The net profits of Bank Aljazira amounted to SAR 204 million in the first quarter (Q1) of 2023, an annual plunge of 45.59% from SAR 374.90 million.
Earnings per share (EPS) declined to SAR 0.25 as of 31 March 2023 from SAR 0.43 in the year-ago period, according to the interim financial results.
The clients’ deposits reached SAR 86.86 billion in the first three months (3M) of 2023, higher by 9.57% year-on-year (YoY) than SAR 79.27 billion.
Assets grew by 14.55% to SAR 119.43 billion in Q1-23 from SAR 104.25 billion in Q1-22, while investments jumped by 12.83% to SAR 36.04 billion from SAR 31.94 billion.
On a quarterly basis, the Q1-23 net profits plummeted by 16.32% from SAR 243.80 million in Q4-22.
Last year, the Saudi lender generated net profits valued ta SAR 1.10 billion, up 10.24% from SAR 1 billion in the January-December 2021 period.
