Riyadh – Mubasher: Arab National Bank (ANB) witnessed 32.60% year-on-year (YoY) higher net profits at SAR 4.07 billion in 2023, compared to SAR 3.07 billion.
Earnings per share (EPS) climbed to SAR 2.71 last year from SAR 2.05 in 2022, according to the income results.
As of 31 December 2023, the clients’ deposits grew by 7.10% YoY to SAR 165.86 billion from SAR 154.87 billion.
The lender reported assets valued at SAR 220.68 billion in 2023, marking an annual rise of 3.79% from SAR 212.62 billion.
Investments witnessed a 13.79% YoY surge to SAR 46.67 billion in 2023 from SAR 41.01 billion.
Dividends for H2-23
The board members of ANB approved an interim cash dividend to the shareholders valued at SAR 1.50 billion for the second half (H2) of 2023. The dividends amount represents 7% of the lender’s capital.
Under the board’s decision on 6 February, the bank will distribute a dividend after Zakat of SAR 0.07 per share for 1.50 billion eligible shareholders.
Eligibility and payment dates for the H2-23 dividends will be 13 and 25 February 2024, respectively.
In the nine-month period that ended on 30 September 2023, ANB registered an annual hike of 37.28% in net profit to SAR 3.13 billion, compared to SAR 2.28 billion.
