SNB profit edges up 6% to SAR 21.19B in 2024; Q4 at SAR 5.56B

29/01/2025 Argaam Exclusive
0

Saudi National Bank (SNB) reported a net profit of SAR 21.19 billion in 2024, 6% growth, from SAR 20.01 billion a year earlier.



Financials (M)

Item 2023 2024 Change‬
Net Special Commission Income 27,008.94 27,730.19 2.7 %
Operating Income 34,589.40 36,038.36 4.2 %
Total Provisions (937.60) (1016.60) (8.4 %)
Net Income 20,009.97 21,193.00 5.9 %
Average Shares 6,000.00 6,000.00 -
Earnings Per Share before unusual items (Riyals) 3.33 3.53 5.9 %
EPS (Riyals) 3.33 3.53 5.9 %
EPS Diluted (Riyals) 3.23 3.44 6.5 %

Special commission income increased by 16% year-on-year (YoY) due to an 8.8% increase in financing portfolio along with an 8.7% increase in the investment portfolio.

 

Total operating income increased by 4.2% to SAR 36 billion as net special commission income rose by 2.7%, net fee income from banking services by 17.2%, and investment income by 11.9%.

 

This was offset by an increase in net impairment charge for expected credit losses by 10.9%.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Net Special Commission Income 6,873.13 6,903.66 0.4 %
Operating Income 8,624.68 8,987.96 4.2 %
Debt Provisions (456.72) (46.22) 89.9 %
Net Income 4,963.24 5,556.73 12.0 %
Average Shares 6,000.00 6,000.00 -
Earnings Per Share before unusual items (Riyals) 0.83 0.93 12.0 %
EPS (Riyals) 0.83 0.93 12.0 %
EPS Diluted (Riyal) 0.81 0.91 12.3 %

Balance Sheet (B)

Item 2023 2024 Change‬
Assets 1,037.08 1,104.15 6.5 %
Customer Deposits 590.05 579.76 (1.7 %)
Loan 601.53 654.25 8.8 %

Q4 2024 net earnings reached SAR 5.56 billion, up 12% YoY from SAR 4.96 billion.

 

On a sequential basis, net profit rose 3.6% from SAR 5.36 billion.

 

Total shareholders’ equity, after minority interest and sukuk, stood at SAR 177.38 billion by Dec. 31, 2024, compared to SAR 160.72 billion a year earlier.

 

View More Financial Results

 

View other reports

Share Price

33.75
(0.15) (0.44 %)

The Saudi National Bank (SNB)

Created with Highstock 6.0.710:1510:3010:4511:0011:1511:3011:4512:0012:1512:3012:4513:0013:1513:3013:4514:0014:1514:3014:4515:1533.5033.5533.6033.6533.7033.7533.8033.8533.9033.9534.00
Close : 33.75 | Feb 13, 15:20

Current
Market Cap (M Riyal) 202,500.00
Shares Outstanding ((M)) 6,000.00
EPS ( Riyal) (TTM) 3.53
EPS Diluted ( Riyal) (TTM) 3.44
Book Value (BV) ( Riyal) 28.56
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.56
P/E (TTM) 9.56
Price/book 1.18
Return on Average Assets (%) (TTM) 2.0
Return on Average Equity (%) (TTM) 12.8

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

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


Comments 0

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.
Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website