Arab National Bank (ANB) reported a net profit of SAR 3.02 billion for the fiscal year of 2019, down by 23.8% year-on-year (YoY), the bank said in a bourse statement.
The earnings drop was mainly attributed to SAR 1.1 billion worth of Zakat settlement between the bank and the General Authority for Zakat and Tax (GAZT).
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Net Special Commission Income | 5,151.44 | 5,552.94 | 7.8 % |
| Operating Income | 6,534.82 | 6,732.84 | 3.0 % |
| Total Provisions | (998.32) | (970.60) | 2.8 % |
| Net Income | 3,969.01 | 3,023.24 | (23.8 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 1.98 | 1.51 | (23.8 %) |
The bank’s Q4 2019 net profit also plunged by 72% YoY to SAR 515 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,363.08 | 1,340.20 | (1.7 %) |
| Operating Income | 1,671.49 | 1,629.03 | (2.5 %) |
| Debt Provisions | (407.28) | (424.67) | (4.3 %) |
| Net Income | 1,826.30 | 515.26 | (71.8 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.91 | 0.26 | (71.8 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,410.44 | 1,340.20 | (5.0 %) |
| Operating Income | 1,736.71 | 1,629.03 | (6.2 %) |
| Debt Provisions | (210.36) | (424.67) | (101.9 %) |
| Net Income | 834.76 | 515.26 | (38.3 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.42 | 0.26 | (38.3 %) |
| EPS Diluted (Riyal) | 0.42 | 0.26 | (38.3 %) |
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | 178.35 | 183.44 | 2.9 % |
| Customer Deposits | 142.06 | 142.13 | 0.0 % |
| Loan | 121.04 | 118.84 | (1.8 %) |
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