Riyadh – Mubasher: The net profits of Bank Aljazira soared by 16.57% to SAR 374.90 million in the first quarter (Q1) of 2022, compared to SAR 321.60 million in Q1-21.

Earnings per share (EPS) increased to SAR 0.43 during the first three months (3M) of 2022 from SAR 0.39 in Q1-21, according to the interim financials on Tuesday.

Meanwhile, the clients' deposits settled at SAR 79.27 billion in Q1-22, a 12.16% year-on-year (YoY) jump from SAR 70.68 billion.

During the January-March 2022 period, the bank's assets enlarged by 10.29% to SAR 104.31 billion, versus SAR 94.58 billion in the same period a year earlier.

On a quarterly basis, the net profits in Q1-22 surged by 63.85% from SAR 228.80 million in Q4-21.

Last year, the Saudi lender generated SAR 1 billion in net profit, higher than SAR 33.80 million in 2020.