Bank Aljazira’s (1020) net profits increased to around SAR 1.1 billion by the end of 2022, compared to around SAR 1 billion during the same period in 2021.
The bank explained that the reason for the increase in profits is due to a 10% decline in operating expenses.
This decline was driven by decreases in net provision for credit losses and impairment in other real estate, rental expenses, building expenses, depreciation, and amortization.
Bank Aljazira’s profits increased in Q4 2022 by 6.5%, compared to the same period in 2021.
The bank recorded an EPS of SAR 1.26 in the current year, compared to SAR 1.18 last year.
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