Bank Aljazira financial data showed that the bank’s profits in the second quarter of this year decreased by 34.2% compared to the same period last year.
According to the results of the bank for the Saudi market (Tadawul), the profits for the period reached 165.8 million riyals, compared to the profits for the second quarter of last year amounting to 251.8 million riyals.
The bank said in a statement to the stock exchange that the decrease in profits during the comparative periods is due to a rise in operating expenses of 36% due to the increase in the net provision for credit losses, employee salaries, and the like and depreciation expenses The amortization is offset by a decrease in other expenses, general and administrative expenses, rents and buildings.
As for the operations income, it increased 10% due to the increase in the net of special commission income, the income of other operations, the net foreign exchange income and the net profits from financial instruments measured at fair value. Through the income statement and net profit from the sale of financial assets measured at fair value through other comprehensive income.
(Fun Knowledge of Knowledge)
