Categories: Business

Bank AlJazira’s profit soars 11% to $230m


Mon, 2022-10-24 17:11

RIYADH: Bank AlJazira’s net profit for the first nine months of 2022 rose 11 percent to SR865 million ($230 million), according to a bourse statement. 

The statement noted that the total operating profit of the bank until the end of September stands at SR2.67 billion compared to SR2.65 billion, during the same period last year. 

The profit hike was driven by lower operating costs, mainly due to a decrease in a net impairment charge for financing and other financial assets, the statement added. 

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