Al-Jazira Bank Saudi Q2 profits rise 16%

Al Jazira Bank in Saudi Arabia achieved a growth of approximately 16% in its profits during the second quarter of the year, with a net profit of 442.8 million riyals compared to 382 million riyals in the same period last year, supported by a 10% increase in operating income. The bank also recorded a net profit for the first half of about 848 million riyals, marking a roughly 14% year-on-year increase. The growth in the bank’s profits resulted from increased income from financing and investments, and the absence of losses from the sale of financial assets, despite a 7% rise in operating expenses due to employee salaries and Zakat obligations.

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