Bank AlJazira reported net profit of SAR 181.6 million, declining 22.7% year-on-year (YoY) for Q1 2020, driven by a 28% increase in operating expenses, higher net impairment charges, increased employee-related expenses and higher general and administrative expenses.
When compared to Q4 2019, net profit dropped by 26.56%.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 489.13 | 545.14 | 11.4 % |
| Operating Income | 695.83 | 768.92 | 10.5 % |
| Debt Provisions | (26.00) | (121.96) | (369.0 %) |
| Net Income | 235.01 | 181.61 | (22.7 %) |
| Average Shares | 1,025.00 | 1,025.00 | - |
| EPS (Riyals) | 0.23 | 0.18 | (22.7 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 543.14 | 545.14 | 0.4 % |
| Operating Income | 817.31 | 768.92 | (5.9 %) |
| Debt Provisions | (77.78) | (121.96) | (56.8 %) |
| Net Income | 247.33 | 181.61 | (26.6 %) |
| Average Shares | 1,025.00 | 1,025.00 | - |
| EPS (Riyals) | 0.24 | 0.18 | (26.6 %) |
| Item | 3m 2019 | 3m 2020 | Change |
|---|---|---|---|
| Assets | 73.93 | 89.73 | 21.4 % |
| Customer Deposits | 51.43 | 62.67 | 21.9 % |
| Loan | 42.13 | 51.98 | 23.4 % |
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