Earnings Report /
Saudi Arabia

Bank AlJazira: Weak earnings on lower revenue and higher opex

  • Revenues fell by 2.6% yoy (-18.2% qoq) to SAR807mn and were much lower than our estimate of SAR1,061mn.

  • Operating expenses (ex-provisioning) increased by 20% yoy (flat qoq) to SAR472mn, compared to our estimate of SAR483mn.

  • The bank has declared an interim dividend of SAR328mn (SAR0.40/share) for the H1 2022.

SNB Capital
2 August 2022
Published bySNB Capital


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