The results of Bank Al-Jazira revealed an increase in the bank’s profits in the first half of this year by 10.5%, on an annual basis, to reach 632.7 million riyals, compared to 572.8 million riyals in the same period of 2021.
The bank said in a statement to the Saudi market (Tadawul), yesterday, Monday, that the increase in profits during the comparison periods is mainly due to the decrease in the net provision for credit losses and other operating expenses, offset by an increase in other general and administrative expenses, employee salaries and the like.
The bank achieved profits of 257.8 million riyals in the second quarter of this year, compared to profits for the same period in 2021, which amounted to 251.2 million riyals, an increase in profits by 2.6%.
The bank’s board of directors decided to distribute cash dividends to shareholders for the first half of this year at a rate of 4% of the nominal value of the share at 0.40 riyals per share, with a total value of 328 million riyals.
