Earnings Report /
Saudi Arabia

BJAZ: Q2 21 results analysis – Lower costs and limited provisions

  • Bank Aljazira’s (BJAZ) net income increased 51.5% yoy (-21.9% qoq) to SAR251mn in Q2 21.

  • Revenues grew 4.9% yoy (-12.4% qoq) to SAR828mn, but were significantly lower than our estimate of SAR899mn

  • Our initial estimates suggest that NIMs remained flat at 2.7%

SNB Capital
5 August 2021
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