Bank Aljazira’s net profit rises over twofold in FY19
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Bank Aljazira’s net profit more than doubled year-on-year (YoY) to SAR 991 million for the fiscal year 2019, on lower Zakat charges and higher operating income.
Net Special Commission Income
The increase in operating income was attributed to higher net special commission income, net gain on the de-recognition of financial assets measured at amortized cost, net banking fees, net exchange income, net gain on FVIS financial instruments, among others.
In Q4 2019, net profit stood at SAR 247.3 million.