ANB reports SAR 4.07B net profit in 2023; Q4 at SAR 941.2M

06/02/2024 Argaam Exclusive

Arab National Bank (ANB), which is 40%-owned by Jordan’s Arab Bank, reported a net profit of SAR 4.07 billion for the twelve months ended Dec. 31, 2023, an increase of 33%, compared to SAR 3.07 billion for the year-earlier period.



Financials (M)

Item 2022 2023 Change‬
Net Special Commission Income 5,636.45 7,136.99 26.6 %
Operating Income 6,862.24 8,410.80 22.6 %
Total Provisions (869.50) (668.59) 23.1 %
Net Income 3,070.41 4,070.51 32.6 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) 1.54 2.04 32.6 %
EPS Diluted (Riyals) 1.54 2.04 32.6 %

Q4 2023 net earnings rose 19% to SAR 941.2 million, from SAR 790.8 million in the year-earlier period.

 

On a sequential basis, Q4 net profit declined by 12.5%.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Net Special Commission Income 1,645.35 1,865.00 13.4 %
Operating Income 1,918.74 2,096.38 9.3 %
Debt Provisions (262.14) 86.62 133.0 %
Net Income 790.88 940.71 18.9 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) 0.40 0.47 18.9 %
EPS Diluted (Riyal) 0.40 0.47 19.0 %

Balance Sheet (B)

Item 2022 2023 Change‬
Assets 212.63 220.68 3.8 %
Customer Deposits 154.87 165.86 7.1 %
Loan 143.83 152.24 5.8 %

Total shareholders’ equity, excluding minority interest, stood at SAR 35.06 billion by Dec. 31, 2023, compared to SAR 32.33 billion in a prior-year period.

 

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Share Price

Arab National Bank
20.10
(0.42) (2.05 %)

Arab National Bank (ANB)

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Financial Ratios
Current
Market Cap (M Riyal) 40,200.00
Shares Outstanding ((M)) 2,000.00
EPS ( Riyal) (TTM) 2.33
EPS Diluted ( Riyal) (TTM) 2.33
Book Value (BV) ( Riyal) 18.19
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.17
P/E (TTM) 8.64
Price/book 1.10
Return on Average Assets (%) (TTM) 2.0
Return on Average Equity (%) (TTM) 13.3
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