BAJ Q2 net income rises to SR 129 m

Bank AlJazira (BAJ) has announced the annual consolidated financial results for the year ended June 30, 2012. Net income during Q2 was SR 129 million, compared to SR 65 million for the same quarter in the previous year, with an increase of 98 percent, compared to a net income of SR 143 million for the previous quarter with a decrease of 10 percent. Total operating income during Q2 reached to SR 409 million compared to SR 308 million for the same quarter in the previous year, with an increase of 33 percent. Net special commission income during Q2 was SR 241 million compared to SR 192 million for the same quarter in the previous year, with an increase of 26 percent. Net Profit during the six-month period reached SR 272 million, compared to SR 127 million for the same quarter in the previous year, with an increase of 114 percent. Earnings per share during six months period reached to SR 0.91 compared to SR 0.42 for the previous year. Total operating income during six months period reached SR 837 million, compared to SR 585 million for the same quarter in the previous year, with an increase of 43 percent. Net special commission income during six months period was SR 460 million, compared to SR 375 million for the same quarter in the previous year, with an increase of 23 percent. Total assets as of June 30, 2012 reached SR 47.27 billion, compared to SR 36.74 billion for the previous year, with an increase of 29 percent. Investments reached SR 8.84 billion as of June 30, 2012 compared to SR 5.30 billion for the previous year, with an increase of 67 percent. Loans and advances portfolio reached SR 27.23 million as of June 30, 2012 compared to SR 22.03 billion for the previous year, with an increase of 24 percent. Customer deposits reached SR 37.25 billion as of June 30, 2012 compared to SR 29.08 billion for the previous year, with an increase of 28 percent. From arabnews