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Bank Al Jazira sees net profit slide in Q4.

Saudi Arabia's Bank Al Jazira posted a Q4 net income of SAR 98 million, a decrease of 11 per cent compared to SAR 110 million for Q4 2011, and a decrease of 25 per cent compared to SAR 130 million for Q3 2012.

Total Operating Income for Q4 2012 amounted to SAR 372 million, an increase of 13 per cent compared to SAR 330 million for Q4 2011.

Net Special commission income for Q4 2012 amounted to SAR 247 million, an increase of 25 per cent compared to SAR 197 million for Q4 2011. Net income during 12 months of 2012 amounted to SAR 501 million, an increase of 65 per cent compared to SAR 303 million for the same period last year.

The earnings per share for the twelve months of 2012 amounted to SAR 1.67 compared to SAR 1.01 for the same period last year.

Total Operating Income during 12 months of 2012 amounted to SAR 1,601 Million, an increase of 33 per cent compared to SAR 1,208 million for the same period last year.

Net Special commission income during 12 months of 2012 amounted to SAR 951 Million, increase of 22 per cent compared to SAR 781 million for the same period last year.

Total Assets increased by 31 per cent and amounted to SAR 50,957 million as at December 31, 2012 compared to SR 38,898 Million as at December 31, 2011. Investments increased by 69 per cent and amounted to SR 9,099 Million as of December 31, 2012 compared to SR 5,397 million as at December 31, 2011. The Loans and Advances Portfolio increased by 28 per cent to reached SAR 29,897 million as at December 31, 2012 compared to SAR 23,307 million as at December 31, 2011. Customers Deposits increased by 31 per cent to reach SAR 40,675 million as at December 31, 2012 compared to SAR 31,159 million as at December 31, 2011.

The reason for the decrease in net profit during the present quarter compared to the identical quarter of last year is due to the increase of operating expenses.

The reason for increase in net profit during the present period compared to the identical period of last year is to the increase in operating income.

The reason for decrease in net profit during the present quarter compared with the previous quarter is due to the increase in operating expenses.

2012 CPI Financial. All rights reserved.

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Publication:CPI Financial
Article Type:Financial report
Date:Jan 15, 2013
Words:423
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