Bank Al-Jazira
| Name | Bank Al-Jazira | |
| Sector | Finance & Insurance - Islamic Commercial Banks | |
| Trading | Tadawul | |
| RIC Code | 1020.SE | |
| Location | SAUDI ARABIA |
Profile and Background
Bank al-Jazira was founded in 1975, the first of the foreign banking operations converted into a local joint stock entity. Initially, National Bank of Pakistan had a 35 per cent stake. This has now been reduced to 5.
83 per cent. The smallest of the kingdom's banks, Bank al-Jazira has been going through a lengthy period of reconstruction which passed a new milestone in 1999 with the elimination of the final elements of carried forward losses from the balance sheet.
The liquidation of more than a decade of the burden of accumulated debt now puts the bank in a position to build more actively for the future and perhaps reduces the chances of an early sale to a larger Saudi or regional bank.
Figures for 1999 show that net income rose by 41 per cent to SR 37 million ($9.9 million). Almost two-thirds of gross operating income came from interest earnings, and the bank reduced the amount coming from investing in equities and foreign exchange.
Total operating costs were effectively capped, allowing an increased profit to be reported for the year. In the balance sheet, the key features included a 31 per cent rise in net loans and advances to SR 1,725 million ($460 million) at the end of the year.
This made the bank the most aggressive player in the Saudi credit market in the year and the loans/assets ratio was driven up to almost 35 per cent. The bank also reported an 18 per cent rise in customer deposits to SR 2,769 million ($738 million) at the end of 1999.
This drove the deposits/assets ratio up to 56 per cent, a low figure by the standards of the Saudi banking industry. Changes in the composition of the balance sheet, however, meant the sharp increases in deposits and loans in the year did not translate into a meaningful increase in the size of the total balance sheet.
83 per cent. The smallest of the kingdom's banks, Bank al-Jazira has been going through a lengthy period of reconstruction which passed a new milestone in 1999 with the elimination of the final elements of carried forward losses from the balance sheet.
The liquidation of more than a decade of the burden of accumulated debt now puts the bank in a position to build more actively for the future and perhaps reduces the chances of an early sale to a larger Saudi or regional bank.
Figures for 1999 show that net income rose by 41 per cent to SR 37 million ($9.9 million). Almost two-thirds of gross operating income came from interest earnings, and the bank reduced the amount coming from investing in equities and foreign exchange.
Total operating costs were effectively capped, allowing an increased profit to be reported for the year. In the balance sheet, the key features included a 31 per cent rise in net loans and advances to SR 1,725 million ($460 million) at the end of the year.
This made the bank the most aggressive player in the Saudi credit market in the year and the loans/assets ratio was driven up to almost 35 per cent. The bank also reported an 18 per cent rise in customer deposits to SR 2,769 million ($738 million) at the end of 1999.
This drove the deposits/assets ratio up to 56 per cent, a low figure by the standards of the Saudi banking industry. Changes in the composition of the balance sheet, however, meant the sharp increases in deposits and loans in the year did not translate into a meaningful increase in the size of the total balance sheet.
Shareholding Groups
| Individuals | 50% |
| Institutions | 11% |
| Floating | N/A |
| Government | N/A |
Board Members (Listed in alphabetical order)
| Director | Abdel Monem R Al Rashed |
| Director | Abdul Aziz B. Al Habdan |
| Director | Abdullah Saleh Kamel |
| Chairman | Adel Mohammed Fakeih |
| Director | Ibrahim A Al Subeaei |
| Director | Mishari I. Al Mishari |
| Director | Mohammad A. Al Angari |
| Director | Syed Ali Raza |
| Director | Tareq Osman Al Qasabi |
Stock Performance
Market Information
| Stock | Saudi_Arabia Index | |
| Last Closing | SAR 131.75 | 3424.18 |
| YTD % |  6% |  0% |
| Weekly % | 7.724% | 5.55% |
| Year High | SAR 142.01 | 9083.39 |
| Year Low | SAR 90.51 | 3296.01 |
| 52 Week High | SAR 373.04 | 4532.55 |
| 52 Week Low | SAR 130.01 | 2983.01 |
| BETA | 3.9436 | |
| Outstanding Shares | 112,500,000 | |
| Market Cap | SAR 14,821,875,000 | |
| Market Cap in $ | USD $3,952,500,000 | |
| % of Saudi_Arabia Market | 1.21% | |
| % of Sector | 3.22% | |
| Rank by Cap | 15 |
Key Figures in '000 SAR
| 2005 | 2004 | 2003 | |
| Total Assets | 14,168,783 | 10,721,805 | 8,988,685 |
| Shareholder's Equity | 2,602,869 | 1,488,003 | 885,081 |
| NIAT | 874,392 | 187,748 | 93,489 |
| Dividends | 9,000 | N/A | 30,600 |
Financial Ratios
| 2005 | 2004 | 2003 | |
| Assets Growth | 32.15% | 19.28% | 57.91% |
| Earning Growth | 365.73% | 100.82% | 41.39% |
| ROaA | 7.03% | 1.91% | 1.27% |
| ROaE | 42.75% | 15.82% | 11.43% |
| No. Of Shares | 15,000,000 | 15,000,000 | 12,000,000 |
| EPS | 58.29 | 12.52 | 7.79 |
| EPS Growth | 365.73% | 100.82% | 41.39% |
| Payout Ratio | 1.029 | N/A | 32.731 |
Valuation Ratios
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| PE | |
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| Div Yield | |
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| EV/Equity |
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