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ARAB NATIONAL BANK

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Arab National Bank : اعلان البنك العربي الوطني عن النتائج المالية الأولية للفترة المنتهية في 2021-09-30 ( تسعة أ

10/25/2021 | 05:24am EDT
Arab National Bank announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

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Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Total income from Special Commissions/Financing & Investments 1,384 1,406 -1.564 1,238 11.793
Net Income from Special Commissions/Financing & Investments 1,252 1,211 3.385 1,130 10.796
Total Operation Profit (Loss) 1,479 1,464 1.024 1,381 7.096
Net Profit (Loss) before Zakat and Income Tax 764 784 -2.551 577 32.409
Net Profit (Loss) 665 669 -0.597 473 40.591
Total Comprehensive Income 713 912 -21.82 564 26.418
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total income from Special Commissions/Financing & Investments 3,885 4,666 -16.738
Net Income from Special Commissions/Financing & Investments 3,562 3,700 -3.729
Total Operation Profit (Loss) 4,417 4,423 -0.135
Net Profit (Loss) before Zakat and Income Tax 2,050 2,151 -4.695
Net Profit (Loss) 1,720 1,798 -4.338
Total Comprehensive Income 2,083 1,725 20.753
Total Share Holders Equity (after Deducting Minority Equity) 30,744 29,339 4.788
Assets 182,275 188,526 -3.315
Investments 43,867 43,387 1.106
Loans and Advances Portfolio (Financing & Investment) 120,016 118,058 1.658
Clients' deposits 129,395 136,725 -5.361
Profit (Loss) per Share 1.15 1.2
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 profit for the quarter decreased due to increases in salaries and employees related expenses and Other general and administrative expenses, offset by decrease in impairment charges for credit losses and fees and commission income and increases in net special commission income and gain on sale of debt financial assets.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is Net profit for the quarter increased due to increases in net special commission income and gains on sale of debt financial assets and a decrease in impairment charges for credit losses , offset by decreases in unrealized gains on FVIS financial instruments and other operating income and an increase in salaries and employees related expenses.
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 profit amounted to SAR 1,720 million, a decrease of 4.3% against the same period in the prior year. This decrease is mainly due to a decrease in net special commission income and an increase in impairment charges for expected credit losses and for other financial assets, offset by increases in realized and unrealized gains on investments and earnings from associates
Statement of the type of external auditor's report Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None
Reclassification of Comparison Items Certain previous period figures has been reclassified in order to conform with current period classifications.
Additional Information The profit per share represents diluted earnings per share which is calculated by dividing the net income after zakat and taxation for the referred years attributable to the equity holders of the Bank by 1500 million shares.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Disclaimer

ANB - Arab National Bank published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 09:23:03 UTC.


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Net Debt 2022 - - -
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Yield 2022 2,92%
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Number of Analysts 6
Last Close Price 30,55 SAR
Average target price 29,08 SAR
Spread / Average Target -4,83%
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Managers and Directors
Obaid bin Abdullah Al-Rashid Deputy CEO, Head-Retail & Private Banking
Latifa Homoud Al-Sabhan Chief Financial Officer
Salah Rashid Abdel Rehaman Al-Rashid Chairman
Aiedh Mohammed Al-Zahrani Chief Operating Officer
Hesham Abdul Latif Hamad Al-Jabr Independent Director
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