Riyadh – Mubasher: Bank AlJazira on Thursday reported a 15.08% year-on-year rise in net profits for the second quarter of 2018, recording SAR 253.4 million, compared to SAR 220.2 million.
The Saudi lender's net profit went up 14.35% to SAR 498.7 million in the period between January and June, up from SAR 436.1 million in H1-17, according to a bourse filing.
Quarter-on-quarter, profits rose 3.3% in Q2-18, from SAR 245.3 million.
The Tadawul-listed bank attributed the first-half profit increase to a 6% growth in operating income on the back of higher net special commission and net exchange income.
Special commission income rose 9% to SAR 665 million in Q2-18, from SAR 612 million during the same period a year earlier, while it saw a 6% growth to SAR 1.3 billion during H1-18.
