Riyadh – Mubasher: Arab National Bank (ANB) reported a 15.73% year-on-year (YoY) jump in net profit to SAR 1.23 billion in the first quarter (Q1) of 2024 from SAR 1.06 billion.

Total operations profit went up by 5.91% YoY to SAR 2.30 billion in Q1-24 from SAR 2.18 billion, according to the interim financial results.

The earnings per share (EPS) registered SAR 0.82 in the three-month period that ended on 31 March 2024, up from SAR 0.71 in the corresponding period of 2023.

Assets rose by 8.45% YoY to SAR 232.14 billion at the end of March from SAR 214.04 billion, while clients’ deposits grew 12.42% YoY to SAR 174.54 billion in Q1-24 from SAR 155.24 billion.

Quarter-on-quarter (QoQ), the bank’s net profit surged 31.34% in Q1-24 from SAR 941 million in the previous quarter.

In 2023, Arab National Bank (ANB) saw a significant increase in net profits, with a YoY rise of 32.60%, reaching SAR 4.07 billion, compared to SAR 3.07 billion in the previous year.