NCB net profit rises 0.3% to SAR 11.4 bln for 2020

09/02/2021 Argaam Exclusive

National Commercial Bank (NCB) reported net profit of SAR 11.4 billion for 2020, up 0.3% year-on-year (YoY), due to a 4.3% rise in gross operating income, partially offset by increased operating expenses including impairments.

 

The bank also cited higher net special commission income, and increased investment-related income.



Financials (M)

Item 2019 2020 Change‬
Net Special Commission Income 16,382.45 16,684.66 1.8 %
Operating Income 20,574.68 21,457.93 4.3 %
Total Provisions (1447.16) (1949.69) (34.7 %)
Net Income 11,401.44 11,440.10 0.3 %
Average Shares 4,019.65 4,019.65 -
EPS (Riyals) 2.84 2.85 0.3 %

Q4 2020 net earnings stood at SAR 3.36 billion, down 0.9% YoY.

 

Total shareholders’ equity, excluding minority interest, rose by 16% YoY to SAR 79.41 billion in 2020.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Net Special Commission Income 4,848.32 4,372.15 (9.8 %)
Operating Income 5,576.93 5,749.32 3.1 %
Debt Provisions (287.23) (348.00) (21.2 %)
Net Income 3,389.61 3,359.77 (0.9 %)
Average Shares 4,019.65 4,019.65 -
EPS (Riyals) 0.84 0.84 (0.9 %)

Balance Sheet (B)

Item 2019 2020 Change‬
Assets 506.82 599.44 18.3 %
Customer Deposits 353.39 416.42 17.8 %
Loan 281.84 346.71 23.0 %

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Share Price

The Saudi National Bank
33.10
0.00 0.00 %

The Saudi National Bank (SNB)

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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
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