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

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 %)

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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