Riyadh – Mubasher: Bank Al-Jazira said Tuesday it generated nearly SAR 381 million ($101.6 million) in net profits during the first quarter of this year, a rise of 67.84% year-on-year from SAR 227 million ($60.5 million).
In a statement posted on Tadawul website, the bank ascribed the profit rise to an increase in total operating income by 27% after the bank gained SAR 209 million from selling owned land plots.
The bank also cited a decline in credit loss provisions.
