Arab National Bank announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 3,250 | 2,090 | 55.5 | 3,039 | 6.94 |
| Net Income from Special Commissions/Financing & Investments | 1,840 | 1,497 | 22.91 | 1,730 | 6.36 |
| Total Operation Profit (Loss) | 2,202 | 1,815 | 21.32 | 2,088 | 5.46 |
| Net Profit (Loss) before Zakat and Income Tax | 1,246 | 1,068 | 16.67 | 1,163 | 7.14 |
| Net Profit (Loss) | 1,076 | 921 | 16.83 | 986 | 9.13 |
| Total Comprehensive Income | 922 | 721 | 27.88 | 1,066 | -13.51 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 244 | 173 | 41.04 | 268 | -8.96 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 723 | 596 | 21.31 | 674 | 7.27 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 9,114 | 5,136 | 77.45 |
| Net Income from Special Commissions/Financing & Investments | 5,303 | 3,991 | 32.87 |
| Total Operation Profit (Loss) | 6,471 | 4,944 | 30.89 |
| Net Profit (Loss) before Zakat and Income Tax | 3,642 | 2,680 | 35.9 |
| Net Profit (Loss) | 3,130 | 2,280 | 37.28 |
| Total Comprehensive Income | 3,125 | 2,014 | 55.16 |
| Total Share Holders Equity (excluding Non-Controlling Interest) | 33,732 | 31,749 | 6.25 |
| Assets | 218,190 | 207,266 | 5.27 |
| Investments | 46,329 | 40,929 | 13.19 |
| Loans and Advances Portfolio (Financing & Investment) | 149,372 | 145,475 | 2.68 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 810 | 610 | 32.79 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,056 | 1,745 | 17.82 |
| Clients' deposits | 154,220 | 147,806 | 4.34 |
| Profit (Loss) per Share | 2.09 | 1.52 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income before Zakat and Income tax increased by 16.7% against the same quarter of prior year. This increase is mainly due to net special commission income, net gains on FVSI financial instruments, net fees and commission income, dividend income and net other operating income.
Offset by the increase in net impairment charge for expected credit losses and other provisions, other general and administrative expenses, salaries and employee related expenses, depreciation and amortisation, rent and premises related expenses, decreases in net exchange income, net trading income and net gains/ (losses) on sale of investments in non-trading instruments. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net income before Zakat and Income tax increased by 7.1% against the previous quarter. This increase is mainly due to net special commission income, dividend income, net exchange income, net other operating income, net gains / (losses) on FVSI financial instruments and decreases in net impairment charge for expected credit losses and other provisions.
Offset by the increase in salaries and employee related expenses, other general and administrative expenses, rent and premises related expenses, depreciation and amortisation and decreases in net trading income, net fees and commission income and net gains/ (losses) on sale of investments in non-trading instruments. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net income before Zakat and Income tax increased by 35.9% against the same period of prior year. This increase is mainly due to increase in net special commission income, net gains/ (losses) on sale of investments in non-trading instruments, net fees and commission income and net other operating income.
Offset by the increase in net impairment charge for expected credit losses and other provisions, other general and administrative expenses, salaries and employee related expenses, depreciation and amortisation, rent and premises related expenses and decreases in net gains on FVSI financial instruments, dividend income, net trading income and net exchange income. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | None |
| Additional Information | Basic and diluted earnings per share for the periods ended September 30, 2023 and 2022 are calculated by dividing the net income for the period attributable to the equity holders of the Bank by 1,500 million shares. The diluted earnings per share is the same as the basic earnings per share. |
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