Riyadh – Mubasher: The Saudi National Bank (SNB) recorded 10.40% higher net profits at SAR 10.03 billion in the first half (H1) of 2023, versus SAR 9.09 billion a year earlier.

Earnings per share (EPS) amounted to SAR 1.62 during the January-June 2023 period, up from SAR 1.49 in H1-22, according to the interim income statements.

The clients’ deposits stood at SAR 602.20 billion during the first six months (6M) of 2023, a 1.55% growth from SAR 593.01 billion in the year-ago period.

Assets went up by 3.93% to SAR 996.16 billion in H1-23 from SAR 958.47 billion in H1-22, while investments rose by 6.85% to SAR 264.82 billion from SAR 247.85 billion.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the net profits of SNB reached SAR 5.01 billion, an annual surge of 9.03% from SAR 4.58 billion.

On a quarterly basis, the Q2-23 net profits edged down by 0.12% from the SAR 5.02 billion generated in Q1-23.