Riyadh – Mubasher: Bank AlJazira on Monday stated that its profits increased by 41.61% in the third quarter of 2017, compared to the year-ago period.

Profits stood at SAR 228 million in Q3-17, compared to SAR 161 million in Q3-16, according to a bourse statement.

Quarter-on-quarter, net profits grew 3.64%.

Saudi Arabia-based bank attributed the rise in its year-on-year profits to the growth in operating income by 19% due to the increase in net special commission income and net trading income.

Net profits tumbled 7.78% to SAR 664 million in the first nine months of 2017, from SAR 720 million in the same period in the previous year.

By 10:59 am KSA time, the bank’s stock shed 0.83% to SAR 11.88.