- Bank Al-Jazira‘s operating income reached 1.10 billion riyals in the third quarter, marking a 7.6% increase compared to the previous year.
- The operating income figure was closely aligned with the estimated 1.11 billion riyals.
- Pretax profit surged by 21% year-on-year, totaling 458.4 million riyals.
- Impairments for the period stood at 54 million riyals, which is a decrease of 38% from last year.
- Operating expenses rose by 5.4% year-on-year, reaching 587.3 million riyals.
- Analyst recommendations for Bank Al-Jazira include 1 buy and 6 holds, with no sell recommendations.
A look at Bank Al-Jazira Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 1 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Bank Al-Jazira, a key player in the banking sector, presents a promising long-term outlook based on its Smartkarma Smart Scores. With a solid Value score of 5, the company is deemed attractive from an investment standpoint. Despite a lower Dividend score of 1, Bank Al-Jazira demonstrates potential for growth with a score of 3 in that category. Additionally, the company shows resilience with a score of 3, indicating its ability to withstand market fluctuations. Furthermore, its Momentum score of 4 suggests positive market sentiment and potential for upward growth.
Overall, Bank Al-Jazira offers a diversified range of services including lease financing, foreign exchange, and asset management. These offerings, coupled with its strong Smart Scores, position the company favorably for long-term success in the competitive banking industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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