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Bank AlJazira inks SAR 22m agreement with Aljazira Takaful

Bank AlJazira inks SAR 22m agreement with Aljazira Takaful
This agreement will have a direct impact on the bank's financial statements
JAZIRA TAKAFUL
8012
0.28% 14.38 0.04
BJAZ
1020
2.81% 16.82 0.46

Riyadh – Mubasher: Bank AlJazira has signed a SAR 21.81 million agreement with Aljazira Takaful Taawuni Company which will provide mortgage portfolio protection services for the bank's clients.

The agreement will be effective for a year starting 8 October 2020, according to the bank's disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday.

This agreement will have a direct impact on the bank's financial statements for the years 2020 and 2021.

It is noteworthy to mention that in the second quarter (Q2) of 2020, the bank reported a 34.15% decline in net profits to SAR 165.8 million from SAR 251.8 million in Q2-19.