Arab National Bank announces its Interim Financial Results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 2,914 | 2,862 | 1.816 | 2,989 | -2.509 |
| Total Income From Special Commission of Investment | 655 | 625 | 4.8 | 650 | 0.769 |
| Net Income From Special Commission of Financing | 1,518 | 1,487 | 2.084 | 1,521 | -0.197 |
| Net Income From Special Commission of Investment | 450 | 441 | 2.04 | 512 | -12.109 |
| Total Operations Profit (Loss) | 2,531 | 2,309 | 9.614 | 2,446 | 3.475 |
| Net Profit (Loss) before Zakat and Income Tax | 1,530 | 1,417 | 7.974 | 1,435 | 6.62 |
| Net Profit/(Loss) | 1,304 | 1,236 | 5.501 | 1,257 | 3.739 |
| Total Comprehensive Income | 1,527 | 1,057 | 44.465 | 1,030 | 48.252 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 801 | 730 | 9.726 | 872 | -8.142 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 205 | 162 | 26.543 | 271 | -24.354 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Assets | 264,651 | 232,885 | 13.64 |
| Investments | 52,311 | 48,363 | 8.163 |
| Loans And Advances Portfolio (Financing And Investment) | 179,057 | 157,875 | 13.416 |
| Clients' deposits | 195,619 | 174,547 | 12.072 |
| Total Shareholders Equity (after Deducting Minority Equity) | 41,830 | 35,879 | 16.586 |
| Profit (Loss) per Share | 0.65 | 0.62 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is | The increase in net special commission income by 2.07% is mainly due to the increase in net loans and advances portfolio by 13.42% and increase in net investments portfolio by 8.16%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income before zakat and income tax recorded a growth of 7.97% compared to the same period of prior year. That is primarily due to the increase in net gains/ (losses) on FVSI financial instruments, net fee and commission income, net special commission income, net exchange income and net trading income.
However, this growth was partially offset by the increase in the costs related to salaries and employee related expenses, net allowance charges for ECL and other provisions, other general and administrative expenses and depreciation and amortisation. That is along with the reduction in net other operating income, dividend income and net gains/ (losses) on non-trading instruments. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is | The increase in provisions during the current period is mainly due to portfolio growth and updates to macroeconomic assumptions, in line with the IFRS 9 model. These reflect a forward-looking approach, supporting the Bank’s overall financial stability. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | The decrease in net special commission income by -3.20% is resulted from the slight decrease in total special commission income offset by the improvement in total special commission expense. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | Net income before zakat and income tax recorded a growth of 6.62% compared to the previous quarter. That is primarily due to the increases in net fee and commission income, net trading income and dividend income. Whereas this was supported by reduction in impairment charges on other real estate owned, salaries and employee related expenses, other general and administrative expenses and premises related expenses.
However, this growth was partially offset by the increase in the costs related to net allowance charges for ECL and other provisions and depreciation and amortisation. That is along with the reduction in net special commission income, net gains/ (losses) on FVSI financial instruments, net exchange income, net gains/ (losses) on non-trading instruments and net other operating income. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is | The decrease in provision during the period is primarily driven by the reduction in impairment charges on other real estate owned. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None. |
| Reclassification of Comparison Items | Certain comparative period figures have been reclassified/ restated to conform with current period presentation, which are not material in nature to the interim condensed consolidated financial statements. |
| Additional Information | Basic and diluted earnings per share for the periods ending on March 31, 2025 and 2024 is calculated by dividing net income for the period attributable to equity holders by the weighted average number of outstanding shares as of March 31, 2025: 2,000 million shares (March 31, 2024: 2,000 million shares) after accounting for treasury shares. |
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