SNB 9M 2022 profit leaps 42% to SAR 13.815 bln; Q3 at SAR 4.725 bln

23/10/2022 Argaam Exclusive

Saudi National Bank (SNB) posted a 42% rise in net profit to SAR 13.815 billion for the first nine months of 2022, compared to SAR 9.705 billion in the year-earlier period. 



Financials (M)

Item 9m 2021 9m 2022 Change‬
Net Special Commission Income 16,272.33 19,510.16 19.9 %
Operating Income 21,181.56 24,885.90 17.5 %
Total Provisions (3433.11) (1518.99) 55.8 %
Net Income 9,704.61 13,815.26 42.4 %
Average Shares 5,504.91 6,000.00 9.0 %
EPS (Riyals) 1.76 2.30 30.6 %
EPS Diluted (Riyals) 2.25 2.25 0.0 %

The nine-month results were driven by higher total operating income and lower operating expense including net impairment charge for expected credit losses.

 

Total operating income grew by 17.5% year-on-year (YoY), mainly due to higher net special commission income, fee income from banking services, foreign exchange income, and lower other operating expenses.

 

Total operating expenses including impairments dropped 12.2% YoY, on lower other general and administrative expenses and net impairment charge for expected credit losses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Net Special Commission Income 6,205.90 6,577.80 6.0 %
Operating Income 7,874.43 8,447.82 7.3 %
Debt Provisions (732.08) (540.55) 26.2 %
Net Income 3,980.27 4,724.56 18.7 %
Average Shares 5,504.91 6,000.00 9.0 %
EPS (Riyals) 0.72 0.79 8.9 %
EPS Diluted (Riyal) 0.76 0.76 0.0 %

The third-quarter net profit climbed 19% to SAR 4.725 billion, from SAR 3.980 billion in Q3 2021.  

 

Compared to Q2 2022, net profit grew by 3% from SAR 4.589 billion. 

  

Shareholders’ equity, after minority interest, rose to SAR 150.253 billion as of Sept. 30, 2022, from SAR 147.911 billion a year earlier.  

Balance Sheet (B)

Item 9m 2021 9m 2022 Change‬
Assets 903.85 964.42 6.7 %
Customer Deposits 589.19 596.89 1.3 %
Loan 502.48 536.18 6.7 %

View More Financial Results

 

View other reports

Share Price

The Saudi National Bank
33.10
(0.20) (0.60 %)

The Saudi National Bank (SNB)

More


Financial Ratios
Current
Market Cap (M Riyal) 198,600.00
Shares Outstanding ((M)) 6,000.00
EPS ( Riyal) (TTM) 3.43
EPS Diluted ( Riyal) (TTM) 3.34
Book Value (BV) ( Riyal) 27.98
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.64
P/E (TTM) 9.64
Price/book 1.18
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 12.8
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request