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Bank AlJazira amends gross operating income on land sale

Bank AlJazira amends gross operating income on land sale
Photo Credit: Arabianeye-Reuters
BJAZ
1020
18.91% 20.00 3.18

Riyadh-Mubasher: Bank AlJazira amended the second-quarter gross operating income from SAR 612 million to SAR 1,184 million after having reclassified the gains from selling a land plot, the lender said in a bourse statement.

In addition, the bank amended the earnings for the first half of 2015 from SAR 1,236 million to SAR 1,809 million.

The Tadawul-listed lender sold a land plot during the period ended 30 June, recording SAR 573 million gains.

The gains were classified as other non-operating income, and then were reclassified as an operating income in the quarterly financial statements, upon the recommendations of external auditors.