Bank Aljazira said yesterday its net profit reached a record SR874.4 million ($233.2 million) in 2005, up 366 percent from the previous year. Total operating income rose 120 percent to SR1.32 billion, the bank said in a statement on the bourse website. The bank said its performance was due to the economic boom in the Kingdom of Saudi Arabia on the back of rising oil receipts, increased lending and improved living standards. Shareholders' equity rose 74 percent to SR2.67 billion, assets rose 32 percent to SR14.2 billion, deposits rose 33 percent to SR10.8 billion and loans increased also 33 percent to SR6.9 billion.
