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ANB’s net profits fall to SAR 1bn in H1-21

ANB’s net profits fall to SAR 1bn in H1-21
Earnings per share amounted to SAR 0.7 in H1-21
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Riyadh – Mubasher: Arab National Bank (ANB) recorded a net profit after Zakat and tax worth SAR 1.05 billion in the first half (H1) of 2021, down 6.6% from SAR 1.13 billion in H1-20.

Earnings per share amounted to SAR 0.7 in H1-21, compared to SAR 0.75 in H1-20, according to the financial results on Wednesday.

ANB’s assets totalled SAR 181.87 billion at the end of June 2021, lower by 2.8% than SAR 187.29 billion in the same period last year.

Clients’ deposits decreased by 2.74% to SAR 130.22 billion in H1-21 from SAR 133.89 billion in H1-20.

In the second quarter (Q2) of 2021, the lender posted a decrease of 2.6% in net profits to SAR 473 million from SAR 486 million in Q2-20.

On a quarterly basis, ANB’s net profits in Q2-21 were 18.7% lower than SAR 582 million in Q1-21.

The bank has paid a total of SAR 525 million as cash dividends for H1-21.