RIYADH, 10 July 2006 — Abdul Muniem Al-Rashed, chairman of Bank AlJazira, announced an 430 percent increase to SR1.347 billion in profit for the first half of 2006, compared with SR254 million for the same period in 2005. Al-Rashed said that SR100 million has been deducted for charity in the Kingdom. The profit per share increased to SR11.98 for the period of the first six months compared with SR2.26 from the same period last year.
SAIB’s Net Profit Rises to SR1.38bn
The Saudi Investment Bank (SAIB) announced SR1.379 billion in net profit for the first half of 2006 compared with SR490 million for the same period last year, which is an increase by more than 181 percent. The profit per share reached SR5.73 compared with SR2.04 from the same period last year.
Saudi Industrial Posts SR11.3m Profit
The chairman of the board for Saudi Industrial Export Co., Abdullah Al-Nujaidi, announced that the company achieved SR11.3 million in net profit for the first half of year 2006. He said that the company already plans to expand its business and add more services to encourage Saudi exports.