> ## Content Index
> Fetch the complete content index at: https://www.theglobalbanker.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Bank AlJazira Posts 21% Profit Rise in FY2024 on Broad-Based Income Growth
- URL: https://www.theglobalbanker.com/bank-aljazira-fy2024-net-income-rises-21-percent-broad-based-income-growth/
- Published: 2025-02-02T13:10:00.000Z
- Updated: 2026-10-02T13:46:15.000Z
- Description: Saudi Arabia's Bank AlJazira reported FY2024 net income of SAR 1.23 billion, up 20.7% year on year, with operating income growing 13% to SAR 3.78 billion.
- Author: TGB Editorial Team
- Tags: Banking News, MENA, #archive

Bank AlJazira has reported full-year 2024 net income of SAR 1,231 million, a rise of 20.7% compared with the prior year, as the Saudi lender delivered broad-based growth across all major revenue categories. Operating income climbed 13% year on year to SAR 3,779 million, driven mainly by an 11% rise in net income from financing and investments, and a 19% expansion in fee and other income.

Higher rates cut both ways: financing and investment income rose 27%, but the cost of funds rose 37% and the bank's net margin eased to 1.99% from 2.04%. Net special commission income advanced 10.9% year on year, while fee income also grew.

#### FINANCING GROWTH

Financing grew 20.0% year on year to SAR 96.91 billion. 

#### BALANCE SHEET GROWTH

Total assets rose 15% year on year to SAR 148.91 billion and customer deposits grew 15.0% to SAR 108.19 billion, according to the bank's results disclosure.

The breadth of the improvement spanned financing income, fees and balance-sheet growth, and the cost-to-income ratio improved 2.2 points to 56.0%, although return on average equity remained modest at 7.32%.