Riyadh – Mubasher: Arab National Bank (ANB) posted a 51.25% year-on-year (YoY) increase in net profit to SAR 2.05 billion during the first half (H1) of 2023, compared with SAR 1.35 billion.
The earnings per share (EPS) grew to SAR 1.37 at the end of June 2023 from SAR 0.91 in the same period a year earlier, according to the income statements.
ANB’s total operating income rose by 36.45% to SAR 4.26 billion during January-June 2023 from SAR 3.12 billion in the corresponding six months (6M) in 2022.
Clients’ deposits increased by 7.89% on an annual basis to SAR 158.37 billion at the end of June this year, compared to SAR 146.79 billion.
ANB’s total assets amounted to SAR 215.98 billion as of 30 June 2023, a growth of 2.93% from SAR 209.82 billion as of H1-22.
Financial Results of Q2-23
During the second quarter (Q2) of 2023, the Saudi lender reported a 39.27% YoY rise in net profit to SAR 986 million, compared with SAR 708 million.
Total operating income of ANB surged by 24.73% annually to SAR 2.08 billion during April-June 2023 from SAR 1.67 billion.
On a quarterly basis, the Q2-23 net profits were 7.68% lower than SAR 1.06 billion in Q1-23, while the operating income went down by 4.22% from SAR 2.18 billion.
