Bank Aljazira posts 23% profit decline to SAR 181.6 mln in Q1 2020

21/05/2020 Argaam Exclusive

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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%.

Current Quarter Comparison (M)

Compared With The

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 %)

Balance Sheet (B)

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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The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

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