Bank Aljazira posts robust results in 2018 backed by solid financial position, says Chairman

Bank AlJazira’s robust results in 2018 implied a solid financial position that will help bolster its investment base, Chairman Tarek Al-Kasabi said in a statement.

The bank has a huge growth potential especially after its recent capital increase, Al-Kasabi said, adding that the bank will continue to pursue the top growth opportunities, maintain solid capital base and generate higher yields.

“The capital increase proceeds will be directed to finance the bank’s expansions in the retail as well as the corporate sectors, in addition to online platforms, and other small and medium enterprises (SMEs),”he noted.

Bank Aljazira reported SAR 1000.3 million in profit, 17 percent higher year-on-year (YoY) in 2018, Argaam reported.