Arab National Bank (ANB) reported a net profit of SAR 1.055 billion for the first half of 2021, a 7% drop from SAR 1.130 billion a year earlier.
The decrease is mainly due to a fall in net special commission income and an increase in credit loss provisions.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,489.81 | 2,309.73 | (7.2 %) |
| Operating Income | 2,959.34 | 2,804.37 | (5.2 %) |
| Total Provisions | (543.78) | (625.68) | (15.1 %) |
| Net Income | 1,129.74 | 1,054.99 | (6.6 %) |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 0.75 | 0.70 | (6.6 %) |
| EPS Diluted (Riyals) | 0.75 | 0.70 | (6.7 %) |
In Q2 2021, net profit decreased by 3% year-on-year (YoY) to SAR 473 million, hit by a 6.1% YoY drop in total operating income, due to lower net special commission and exchange income.
On a sequential basis, net profit fell 18.7% from SAR 582 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,199.05 | 1,130.18 | (5.7 %) |
| Operating Income | 1,469.73 | 1,381.21 | (6.0 %) |
| Debt Provisions | (345.43) | (290.67) | 15.9 % |
| Net Income | 485.95 | 472.76 | (2.7 %) |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 0.32 | 0.32 | (2.7 %) |
| EPS Diluted (Riyal) | 0.32 | 0.32 | 0.0 % |
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Assets | 187.30 | 181.88 | (2.9 %) |
| Customer Deposits | 133.90 | 130.22 | (2.7 %) |
| Loan | 117.13 | 117.83 | 0.6 % |
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