{"id":94008,"date":"2025-02-03T00:00:00","date_gmt":"2025-02-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/03\/sab-bahri-bank-al-jazira-amiantit-publish-2024-earnings\/"},"modified":"2025-02-03T00:00:00","modified_gmt":"2025-02-03T00:00:00","slug":"sab-bahri-bank-al-jazira-amiantit-publish-2024-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/03\/sab-bahri-bank-al-jazira-amiantit-publish-2024-earnings\/","title":{"rendered":"SAB, Bahri, Bank Al Jazira, Amiantit publish 2024 earnings"},"content":{"rendered":"

<\/strong>We continue with the earnings season this morning<\/strong>, as Saudi Awwal Bank, Bahri and Bank Al Jazira are out with their results for the past year. Amiantit also published its 2024 earnings, turning profitable after seeing losses in 2023.<\/p>\n

\n

SAUDI AWWAL BANK-<\/p>\n

Saudi Awwal Bank (SAB) saw its net income grow 15.3% y-o-y to SAR 8.1 bn in <\/strong>2024<\/strong>, it said in a disclosure to Tadawul<\/a>. Total income from financing rose 23.9% y-o-y to SAR 15.9 bn in the same period, while total income from investments increased 8.1% y-o-y to SAR 4.6 bn.<\/p>\n

\n

BAHRI-<\/p>\n

The <\/strong>National Shippin<\/strong>g Comp<\/strong>any of Saudi Arabia (Bahri) posted a record net income of SAR <\/strong>2.2 bn in 2024, <\/strong>up 34% y-o-y, on the back of higher global shipping rates, increased operating activities, and strong returns from Bahri\u2019s subsidiaries \u2014 including Bahri Integrated Logistics, Bahri Chemicals, and Bahri Oil \u2014 it said in a statement (pdf)<\/a>. Revenues rose 8% y-o-y to another record of SAR 9.48 bn.<\/p>\n

Bahri also saw solid quarterly results: <\/strong>Bahri\u2019s net income increased 18.2% y-o-y in 4Q 2024 to SAR 474.3 mn, while its revenues went up 9.5% y-o-y to SAR 2.2 bn.<\/p>\n

\n

BANK AL JAZIRA-<\/p>\n

Bank Al Jazira\u2019s net income rose 20.7% y-o-y to SAR 1.2 bn in 2024<\/strong>, it said in a disclosure<\/a> to Tadawul. The increase was driven by a 13% rise in operating income. Total income from financing rose 26.9% y-o-y to SAR 5.9 bn, while investment income grew 28.6% y-o-y to SAR 2.1 bn.<\/p>\n

\n

AMIANTIT-<\/p>\n

The Saudi Arabian Amiantit Company turned profitable last year with a net income of SAR 439.8 mn<\/strong>, recovering from a net loss of SAR 174.7 mn in 2023, it said in a disclosure to Tadawul<\/a>. The comeback was driven by a 77% reduction in debt and a 60% cut in finance expenses. Meanwhile, revenues increased 18% y-o-y to SAR 848.3 mn over the same period, driven by higher revenue from subsidiaries and increased sales volume.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amiantit turned profitable last year<\/p>\n","protected":false},"author":1,"featured_media":94009,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[288,285,10,1281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-bahri","tag-earnings-watch","tag-enterpriseam-ksa","tag-saudi-awwal-bank-sab","wpautop","entry"],"acf":{"mongo_id":"79f0b9c5-a99d-4edc-a5c2-2245b69e4db5","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/115.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SAB, Bahri, Bank Al Jazira, Amiantit publish 2024 earnings","related_issue":[93990],"teaser":"Amiantit turned profitable last year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.1a145db2-246a-46ae-962f-f6a88b476fa2.mp3"},"yoast_head":"\nSAB, Bahri, Bank Al Jazira, Amiantit publish 2024 earnings - 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