Earnings Report /
Saudi Arabia

Bank AlJazira: Estimates missed despite earnings growth

  • Revenues grew 8.2% yoy (+6.0% qoq) to SAR878mn and were higher than our estimate of SAR849mn

  • Our initial estimates suggest that NIMs remained flat at 2.8%, in-line with our estimate

  • The bank recorded provisions of SAR159mn (-12.0% yoy, flat qoq), compared to our estimate of SAR143mn

SNB Capital
28 October 2021
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