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ANB’s net profits down 0.5% in Q3-21

ANB’s net profits down 0.5% in Q3-21
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Riyadh – Mubasher: Arab National Bank (ANB) registered a year-on-year (YoY) decline of 0.5% in net profits to SAR 665 million in the third quarter (Q3) of 2021 from SAR 669 million in Q3-20.

On a quarterly basis, the net profits in the July-September 2021 period were 40.5% higher than SAR 473 million in Q2-21, according to the initial financial results on Monday.

During the first nine months of 2021, ANB posted lower profits by 4% YoY to SAR 1.72 billion from SAR 1.79 billion.

Earnings per share went down to SAR 1.15 at the end of September this year from SAR 1.2 during the same period in 2020.

Clients’ deposits shrank by 5% to SAR 129.39 billion during the nine-month period in 2021 from SAR 136.72 billion in the same period a year ago.

Assets also decreased by 3% YoY to SAR 182.27 billion in the January-September 2021 period from SAR 188.52 billion in the prior-year period.