Bank Aljazira’s profits down to $266.6mln in 2023

Bank Aljazira recorded an 8.03% year-on-year (YoY) drop in net profit to SAR 1.02 billion in 2023 from SAR 1.10 billion in 2022.

The clients’ deposits increased by 9.34% YoY to SAR 94.05 billion as of 31 December 2023 from SAR 86.02 billion, according to the income statements.

Furthermore, the earnings per share (EPS) stood at SAR 1.08 in 2023, down from SAR 1.26 a year earlier.

Assets hit SAR 129.55 billion in the January-December 2023 period, marking an annual rise of 11.83% from SAR 115.84 billion. Meanwhile, the investments went down by 0.55% to SAR 34.44 billion from SAR 34.63 billion.

In the first nine months (9M) of 2023, Bank Aljazira witnessed 14.40% lower net profits at SAR 740.70 million, compared to SAR 865.30 million in 9M-22.

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