Saudi: Bank Aljazira’s H1-24 net profits up to $164.6mln

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Bank Aljazira generated SAR 618 million in net profit during the first half (H1) of 2024, up 33.01% year-on-year (YoY) from SAR 464.60 million.

Earnings per share (EPS) went up to SAR 0.51 in H1-24 from SAR 0.42 in H1-23, according to the interim financials.

The reported clients' deposits hit SAR 98.55 billion in the first six months (6M) of 2024, marking an annual rise of 7.02% from SAR 92.08 billion.

The assets jumped by 10.89% YoY to SAR 138 billion as of 30 June 2024 from SAR 124.44 billion, while the investments shrank by 4.73% YoY to SAR 34.62 billion from SAR 36.34 billion.

Financials for Q2-24

In the second quarter (Q2) of 2024, the lender logged net profits valued at SAR 317.60 million, higher by 21.87% than SAR 260.60 million in Q2-23.

Quarterly, the Q2-24 net profits soared by 5.72% from SAR 300.40 million in January-March 2024.