Logo of Saudi National Bank (SNB)
Saudi National Bank’s (SNB) net special commission income rose to SAR 6.555 billion in Q3 2022 from SAR 6.205 billion in Q3 2021, according to data compiled by Argaam.
Q3 2022 debt provisions dropped by 26% to SAR 540.5 million, compared to SAR 732.1 million in a year-earlier period.
On the other hand, net non-special commission income increased by 13% year-on-year (YoY) to SAR 1.892 billion in the three-month period.
|
Income Statement (SAR mln) |
||||||
|
Period |
2021 |
2022 |
||||
|
Q3 |
Q4 |
Q1 |
Q2 |
Q3 |
||
|
Net Special Commission Income |
6205.9 |
6076.6 |
6085.0 |
6805.9 |
6555.1 |
|
|
Net Non-Special Commission Income |
1668.5 |
1312.1 |
1979.8 |
1567.4 |
1892.7 |
|
|
Debt Provisions |
(732.1) |
(514.8) |
(384.9) |
(593.5) |
(540.6) |
|
|
Merger-Related Costs |
(31.0) |
(90.0) |
0.0 |
0.0 |
0.0 |
|
|
Amortization of Tangible Assets |
(229.7) |
(284.2) |
(229.7) |
(205.1) |
(205.1) |
|
|
Net Profit |
3980.3 |
3357.2 |
4501.6 |
4589.1 |
4724.6 |
|
The corporate segment’s Q3 2022 provisions dropped to SAR 382.3 million, compared to SAR 553.9 million in the year-earlier period.
The retail segment’s provisions also slumped by 55% to SAR 74.8 million in Q3 2022, from SAR 166.8 million in the year-earlier period.
Other provisions increased to SAR 83.4 million in the third quarter, from SAR 11.3 million in the prior-year period.
|
Credit Provisions by Segment (SAR mln) |
|||
|
Period |
Corporate |
Retail |
Other* |
|
2021 |
|||
|
Q1 |
402.3 |
(154.8) |
38.8 |
|
Q2 |
1786.9 |
595.4 |
32.4 |
|
Q3 |
553.9 |
166.8 |
11.3 |
|
Q4 |
170.7 |
106.6 |
216.7 |
|
2022 |
|||
|
Q1 |
122.8 |
170.4 |
91.2 |
|
Q2 |
345.6 |
131.3 |
116.7 |
|
Q3 |
382.3 |
74.8 |
83.4 |
*International banking and treasury
The bank’s non-performing loans (NPLs) coverage ratio dropped to 97% by the end of Q3 2022, compared to 104% in the same period a year earlier, after non-performing loans outgrew provisions.
|
NPLs & Coverage Ratio (SAR mln) |
|||
|
Period |
Q3 2021 |
Q3 2022 |
Change |
|
NPLs |
8083.7 |
8551.3 |
+6% |
|
NPLs Ratio |
1.6% |
1.6% |
-- |
|
Credit Loss Provision |
(8403.4) |
(8333.5) |
+1% |
|
NPLs Coverage Ratio |
104% |
97% |
(7%) |
SNB recorded a net cash deficit YoY, as investments rose by SAR 16.2 billion to SAR 252.4 billion by the end of Q3 2022.
|
Current Assets (SAR bln) |
|||
|
Period |
Q3 2021 |
Q3 2022 |
Change |
|
Current Assets |
40.9 |
46.7 |
+14% |
|
Current Liabilities |
104.1 |
143.5 |
(38%) |
|
Net Current Assets |
(63.2) |
(96.8) |
(53%) |
|
Total Assets |
903.8 |
964.4 |
+7% |
|
Net Current Assets/Total Assets (SAR bln) |
(7.0%) |
(10.0%) |
(3.0%) |
Customer deposits jumped to SAR 597 billion in Q3 2022, from SAR 589 billion in Q3 2021. Similarly, loans and advances increased by nearly 7% YoY to SAR 536.2 billion.
|
Balance Sheet |
|||
|
Period |
Q3 2021 |
Q3 2022 |
Change |
|
Assets (SAR bln) |
903.8 |
964.4 |
+7% |
|
Customer Deposits (SAR bln) |
589.2 |
596.9 |
+1% |
|
Loans (SAR bln) |
502.5 |
536.2 |
+7% |
|
Loan-to-Deposit Ratio |
85 % |
90 % |
+5% |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}