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Bank Aljazira’s profit increases by 377%

Saudi Arabia: Tuesday, April 19 - 2011 @ 09:51

The net special commission income in the first quarter was SR183m, compared with SR168m for the same quarter last year, an increase of 9%.

Earnings per share for the three months were SR0,21 versus SR0,04 for the same period last year. Total assets as at 31/03/2011 was SR35,913m against SR27,791m for the same period last year, an increase of 29%.

Total investments as at 31/03/2011 was SR4,618m against SR4,216m for the same period last year, an increase of 10%. Loans and advances as at 31/03/2011 amounted to SR19,942m against SR16,339m for the same period last year, an increase of 22%. Customer deposits as at 31/03/2011 amounted to SR28,758m against SR19,203m for the same period last year, an increase of 50%.

In addition, Bank AlJazira issued Sukuk amounted to SR1bn. The increase of net profit is attributed to the increase in the income from the Murabaha deals revenues and banking charges and commissions, and reduction of operating expenses.

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Tuesday, April 19- 2011 @ 9:51 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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