Riyadh – Mubasher: The net profits of Arab National Bank (ANB) reached SAR 1.06 billion during the first quarter (Q1) of 2023, higher by 64.06% year-on-year (YoY) than SAR 651 million.
The earnings per share (EPS) increased to SAR 0.71 in the first three months (3M) of 2023, versus SAR 0.43 in the year-ago period, according to the interim income statements.
ANB reported clients’ deposits valued at SAR 155.24 billion as of 31 March 2023, up 4.80% YoY from SAR 148.13 billion.
The assets climbed by 4.60% to SAR 214.04 billion in Q1-23 from SAR 204.62 billion in Q1-22, while the investments declined by 2.08% to SAR 42.77 billion from SAR 43.68 billion.
On a quarterly basis, the Q1-23 net profits hiked by 35.02% from SAR 791 million in Q4-22.
Earlier in April, the Saudi lender disbursed cash dividends after Zakat worth SAR 900 million for the second half (H2) of 2022.
Last year, the bank posted a 41.02% surge in net profit to SAR 3.07 billion from SAR 2.17 billion in 2021.
