Arab National Bank

Apr 27, 2022

Saudi’s ANB achieves 12% higher net profits in Q1-22 initial financials Riyadh – Arab National Bank (ANB) posted net profits worth SAR 650.70 million in the first quarter (Q1) of 2022, up by 11.76% from SAR 582.20 million in Q1-21. On a quarterly basis, the net profits in Q1-22 were 42.60% higher than SAR 456.30 million in Q4-21, according to the initial financial results on Tuesday. Earnings per share in Q1-22 stood at SAR 0.43, compared to SAR 0.39 in the same three months (3M) last year. Clients’ deposits grew by 18.35% to SAR 148.13 billion in January-March 2022 from SAR 125.16 billion in the corresponding period a year ago. Investments totalled SAR 42.73 billion in Q1-22, lower by 1.33% year-on-year (YoY) from SAR 43.30 billion. The bank’s assets meanwhile soared by 15.32% to SAR 204.62 billion in Q1-22 from SAR 177.43 billion in Q1-21. In 2021, ANB generated SAR 2.18 billion in net profit, compared to SAR 2.07 billion in 2020. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).