Tagged: Bank AlJazira

Bank AlJazira reports 29% jump in Q2 net profit

Bank AlJazira reports 29% jump in Q2 net profit

Saudi lender Bank AlJazira has reported a 29% jump in its net income for the second quarter to SR167m, compared with SR129m for the same quarter last year. Net profit during the first six months of 2013 grew 15% to SR312m from SR272m for the same perio…

Ratings of Bank AlJazira affirmed

Ratings of Bank AlJazira affirmed

Capital Intelligence (CI) has affirmed the ratings of Saudi Bank ALJazira (BAJ). The Financial Strength Rating (FSR) is affirmed at 'BBB', supported by sound liquidity, strong customer deposit growth and improved profitability. For the same reasons, th…

Rating boost for Bank AlJazira

Rating boost for Bank AlJazira

<p>Islamic International Rating Agency (IIRA) has assigned a national scale rating of A+/A-1 (SR) to Bank AlJazira. On the international scale, IIRA has assigned a foreign currency and local currency rating of A-/A-2. Outlook on the rating is &lsquo;stable&rsquo;. The fiduciary score has been assessed in the range of &lsquo;71-75&rsquo;, reflecting adequate fiduciary standards. The assigned credit ratings incorporate the bank&rsquo;s improving asset quality and standalone profitability as well as an adequate liquidity profile and capitalization levels. However, BAJ, like other banks in Saudi Arabia, remains sensitive to concentration related risks. While large single exposures are likely to persist in the portfolio, segment-wise broadening will overtime reduce its possible impact, in case of impairment in large financings.</p>
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<p><a href="http://www.arabnews.com/news/456767" title="http://www.arabnews.com/news/456767">http://www.arabnews.com/news/456767</a></p>
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IIRA Assigns Fiduciary Ratings to Bank AlJazira

IIRA Assigns Fiduciary Ratings to Bank AlJazira

Islamic International Rating Agency (IIRA) has assigned a national scale rating of A+/A-1 to Bank AlJazira (BAJ). On the international scale, IIRA has assigned a foreign currency and local currency rating of A-/A-2. Outlook on the rating is 'Stable'. T…

Bank AlJazira’s 2012 profits up 65%

Bank AlJazira’s 2012 profits up 65%

Bank AlJazira registered a net income of SR 98 million for the fourth quarter of 2012. Compared to Q4 2011 this is a decrease of 11% from SR110 million. The difference compared to Q3 2012 is 25% in favour of Q3. Other important parts of the annual fina…

Capital Intelligence marks down Bank AlJazira

Capital Intelligence marks down Bank AlJazira

Capital Intelligence (CI) has lowered the Financial Strength Rating (FSR) of Bank AlJazira (BAJ), based in Jeddah, Saudi Arabia, to ‘BBB’ from ‘BBB+’. The bank has now a stable outlook.
At the end of 2010, the Bank’s total staff was 1,616.