Riyadh – Mubasher: Bank AlJazira on Wednesday said that net profits grew 17% year-on-year in 2018.

The bank’s net profits rose to SAR 1 billion ($270 million) in January to December last year from SAR 857.5 million ($228.61 million) in 2017, according to a bourse filing.

The increase in annual earnings was attributed to a 5% rise in operating profits, reaching SAR 2.71 billion, from SAR 2.57 billion in 2017.

Total revenues for special commissions and investments levelled up 8.4% to SAR 2.98 billion last year, compared to SAR 2.75 billion during 2017, while net income for special commissions and investments grew 6.6% to SAR 1.93 billion in 2018 from SAR 1.81 billion in the year before.

Bank AlJazira’s earnings per share (EPS) amounted to SAR 1.33 during 2018 versus SAR 1.51 in 2017.

In the final quarter of 2018, the Tadawul-listed bank’s earnings surged 27.26% to SAR 246.5 million from SAR 193.7 million in the October-to-December 2017 period.

Bank AlJazira’s stock grew 0.47% to end Wednesday’s trading activities at SAR 17.