SNB profit climbs 19% to SAR 6.02B in Q1 2025

22/04/2025 Argaam Exclusive

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Saudi National Bank’s (SNB) net earnings in Q1 2025 rose 19% to SAR 6.02 billion from SAR 5.04 billion in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Net Special Commission Income 6,911.33 7,254.00 5.0 %
Operating Income 8,939.42 9,615.00 7.6 %
Debt Provisions (654.56) (34.00) 94.8 %
Net Income 5,039.61 6,022.00 19.5 %
Average Shares 6,000.00 6,000.00 -
Earnings Per Share before unusual items (Riyals) 0.84 1.00 19.5 %
EPS (Riyals) 0.84 1.00 19.5 %
EPS Diluted (Riyal) 0.82 0.96 17.1 %

Total operating income grew 7.6% year-on-year (YoY), while total operating expenses, including net impairment charge for expected credit losses, decreased by 16.7% to SAR 2.8 billion.

 

Additionally, special commission income grew 5.7% due to an increase in income from financing portfolio by 2.6% to SAR 10.9 billion, while income from investment portfolio rose 16.8% to SAR 3.4 billion.

 

Net fee income from banking services rose 6.6% to SAR 1.2 billion, while total investment gains/income inched up 34.9% to SAR 0.9 billion.

 

The bank also reported a decrease in net impairment charges for expected credit losses by 94.8%.

Balance Sheet (B)

Item 3m 2024 3m 2025 Change‬
Assets 1,072.29 1,171.08 9.2 %
Customer Deposits 656.26 626.39 (4.6 %)
Loan 625.20 706.43 13.0 %

Compared to Q4 2024, the bank’s net profit grew 8.4% from SAR 5.55 billion.

 

Shareholders’ equity, after minority interest and sukuk, increased to SAR 172.29 billion as of March 31, 2025, from SAR 164.80 billion a year earlier.

 

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Share Price

The Saudi National Bank
35.10
1.20 3.54 %

The Saudi National Bank (SNB)

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Financial Ratios
Current
Market Cap (M Riyal) 210,300.00
Shares Outstanding ((M)) 6,000.00
EPS ( Riyal) (TTM) 3.70
EPS Diluted ( Riyal) (TTM) 3.58
Book Value (BV) ( Riyal) 28.72
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.48
P/E (TTM) 9.48
Price/book 1.22
Return on Average Assets (%) (TTM) 2.0
Return on Average Equity (%) (TTM) 13.2
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