Arab National Bank (ANB) reported a net profit of SAR 1.72 billion for the first nine months of 2021, down 4% from SAR 1.798 billion a year earlier.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 3,700.45 | 3,562.08 | (3.7 %) |
| Operating Income | 4,423.17 | 4,258.02 | (3.7 %) |
| Total Provisions | (747.46) | (816.23) | (9.2 %) |
| Net Income | 1,798.34 | 1,720.25 | (4.3 %) |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 1.20 | 1.15 | (4.3 %) |
| EPS Diluted (Riyals) | 1.20 | 1.15 | (4.2 %) |
The decline was attributed to a decrease in net special commission income and an increase in impairment charges for expected credit losses and for other financial assets. It was offset by an increase in realized and unrealized gains on investments and earnings from associates.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,210.64 | 1,252.35 | 3.4 % |
| Operating Income | 1,463.83 | 1,453.66 | (0.7 %) |
| Debt Provisions | (203.68) | (190.54) | 6.5 % |
| Net Income | 668.60 | 665.35 | (0.5 %) |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 0.45 | 0.44 | (0.5 %) |
| EPS Diluted (Riyal) | 0.45 | 0.44 | (2.2 %) |
The Q3 2021 net profit slipped 1% year-on-year (YoY) to SAR 665 million, due to increases in salaries and employee-related expenses, along with higher general and administrative expenses.
On a sequential basis, Q3 net profit jumped 40.7% from SAR 472.76 million.
Shareholders’ equity, after minority interest, increased to SAR 30.744 billion as of Sept. 30, 2021, from SAR 29.339 billion a year earlier.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Assets | 188.53 | 182.27 | (3.3 %) |
| Customer Deposits | 136.72 | 129.39 | (5.4 %) |
| Loan | 118.06 | 120.02 | 1.7 % |
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