Saudi Arabia-based Bank AlJazira posted SAR 199 million net earnings for the fourth quarter of 2014, leaping 32.67% year-on-year from SAR 150 million and 323.4% quarter-on-quarter from SAR 47 million.
The full-year net earnings fell 12.14% to SAR 572 million, compared with SAR 651 million in 2013.
Earnings per share fell from SAR 1.63 to SAR 1.43.
Total assets went up 10.97% to SAR 66,554 million, compared with SAR 59,976 million a year earlier.
The lender ascribed Q4 profit growth y/y to the growth in core banking activities and increase in operating income.
Q4 profit rise q/q was due to the increase in total operating expenses, the bank said.
It also attributed the full-year profit decline to decrease in total operating expenses.
Photo Credit: Arabianeye-Reuters