The financial statements of Bank Al-Jazira showed an increase in the bank's profits by 47% in the first nine months of 2021, on an annual basis.
According to the bank's results for the Saudi market (Tadawul), today, Wednesday, the profits for the period amounted to about 251.2 million riyals, compared to the profits for the same period in 2020 of 165.8 million riyals.
The bank achieved quarterly profits of 204.5 million riyals, compared to profits of 181.6 million riyals in the third quarter of last year, an increase of 12.6%.
The bank attributed the increase in profits during the comparison periods to the 8% increase in operating income.
He also attributed the rise in profits to the rise in operating income, which is mainly due to the increase in net financing and investment income, net income from banking services fees, and net profits from selling Financial assets measured at fair value through other comprehensive income, and the net gain of financial instruments held at fair value through the income statement, offset by a decrease in net foreign currency translation income and other operating income.