Driven by the decision to appoint a new CEO…Bank Al Jazira shares rise 0.21% in “Tadawul”

The shares of Bank Al Jazira, listed and traded in the Saudi market “Tadawul”, rose by 0.21% in midday trading on Wednesday, to trade at a price of 18.82 riyals per share, driven by the decision to appoint a new CEO.

Trading in Al Jazira shares came through 410 trading operations, over 406.03 thousand shares, with a trading value of 7.64 million riyals.

The highest price per share at that time was 18.86 riyals, while the lowest price per share was 18.76 riyals.

In a separate context, Bank Al Jazira’s preliminary financial statements showed a remarkable growth in its net profits during the third quarter of 2024, as profits increased by 20.5% compared to the same period of the previous year.

Net profit after deducting zakat and taxes reached about 332.7 million riyals, compared to 276 million riyals in the third quarter of the previous year.

In the second quarter of the previous year, the bank recorded a net profit of about 317.6 million riyals.

In terms of profits during the first nine months of the current year, the bank witnessed an increase of 28.35%, as profits rose to 950.7 million riyals, compared to 740.7 million riyals in the corresponding period of the previous year.

It is noteworthy that Bank Al Jazira is a public joint stock company listed on the Saudi Stock Exchange (Tadawul) since October 1976, and operates within the banking services sector with a main focus on diversified banking activities.