Bank AlJazira reported a net profit of SAR 1.02 billion for the twelve months ended Dec. 31, 2023, a decline of 8% compared to SAR 1.10 billion for the year-earlier period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,607.38 | 2,374.80 | (8.9 %) |
| Operating Income | 3,442.51 | 3,315.30 | (3.7 %) |
| Total Provisions | (286.32) | (229.06) | 20.0 % |
| Net Income | 1,109.09 | 1,019.97 | (8.0 %) |
| Average Shares | 1,025.00 | 1,025.00 | - |
| EPS (Riyals) | 1.08 | 1.00 | (8.0 %) |
| EPS Diluted (Riyals) | 1.08 | 1.00 | (7.4 %) |
The net income drop was mainly ascribed to a 5% decrease year-on-year (YoY) in operating income on lower net financing and investment income, net gains on FVIS financial instruments, and other operating income.
Net financing and investment income fell 9% YoY mainly due to an increase in return on deposits and financial liabilities by 197%.
Meanwhile, income from investments and financing increased by 60% YoY.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Net Special Commission Income | 593.07 | 642.82 | 8.4 % |
| Operating Income | 819.70 | 886.46 | 8.1 % |
| Debt Provisions | (50.20) | (68.12) | (35.7 %) |
| Net Income | 243.75 | 279.29 | 14.6 % |
| Average Shares | 1,025.00 | 1,025.00 | - |
| EPS (Riyals) | 0.24 | 0.27 | 14.6 % |
| EPS Diluted (Riyal) | 0.24 | 0.27 | 12.5 % |
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Assets | 115.85 | 129.55 | 11.8 % |
| Customer Deposits | 86.02 | 94.05 | 9.3 % |
| Loan | 70.60 | 80.78 | 14.4 % |
Q4 2023 net profit reached SAR 279.3 million, an increase of 15% YoY from SAR 243.75 million in Q4 2022.
On a quarterly basis, net profit inched up 1.2% from SAR 276.04 million.
Total shareholders’ equity, no minority interest and after deducting sukuk, stood at SAR 12.54 billion by Dec. 31, 2023, compared to SAR 11.73 billion in the prior-year period.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}