Bank Al Jazeera’s profits rise to 1.23 billion riyals in 2024

The net profit of Al -Jazira Bank in the fiscal year ending on December 31, 2024 increased by 20.7% to 1.23 billion riyals, compared to 1.020 billion riyals in the year 2023.
According to the bank’s statement on the circulation of Saudi Arabia, the net income increased by 21% due to the increase in operations income by 13%, and this is mainly due to the rise in the net financing and investment income and the net income from the fees of banking services and the net profit of financial tools at fair value through the income list and the income of operations Other and income from profit distributions and net currency conversion income, a decrease in net profit from the sale of financial assets is met with extinguished cost.
On the other hand, operations expenses increased by 10%, mainly due to the rise in a net credit losses, employee salaries, and the like, public and other administrative expenses, other operations expenses, rental expenses, buildings, consumption and extinguishing expenses, met with the opposite of the value of the decrease in the value of other real estate.
He added that the rise in net income is also met with a rise in the customer -loaded allowance during the year.