Arab National Bank posts higher net profit at SAR 678.7m in I1 of 2013

31/03/2013 Argaam Exclusive

Arab National Bank, 40% owned by Arab Bank Jordan, reported SAR 678.7m net profit at the end of the first quarter of 2013, compared to SAR 655.5m in the same period last year, as shown in the following table:

Current Quarter Comparison (M)

Compared With The
Item Q1 2012 Q1 2013 Change‬
Net Special Commission Income 772.74 775.21 0.3 %
Operating Income 1,195.69 1,268.29 6.1 %
Debt Provisions (89.92) (106.27) (18.2 %)
Net Income 655.51 678.70 3.5 %
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) 0.44 0.45 3.5 %

Balance Sheet (B)

Item 3m 2012 3m 2013 Change‬
Assets 125.42 133.67 6.6 %
Customer Deposits 90.69 109.09 20.3 %
Loan 75.57 85.97 13.8 %

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Share Price

Arab National Bank
24.10
0.08 0.33 %

Arab National Bank (ANB)

Financial Ratios
Current
Market Cap (M Riyal) 36,210.00
Shares Outstanding ((M)) 1,500.00
EPS ( Riyal) (TTM) 2.51
EPS Diluted ( Riyal) (TTM) 2.51
Book Value (BV) ( Riyal) 22.47
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 10.03
P/E (TTM) 9.62
Price/book 1.07
Return on Average Assets (%) (TTM) 1.8
Return on Average Equity (%) (TTM) 11.6
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Financial results (Million)

Period Net Special Commission Income Change Operating Income Change Debt Provisions Change Net Income Change EPS (Riyal)
Q1 2004 435.74 17.1 % 554.99 24.2 % (61.10) 7.1 % 272.28 46.8 % 0.18
Q2 2004 456.51 24.8 % 607.55 31.0 % (70.26) 0.9 % 303.38 58.2 % 0.20
Q3 2004 488.76 27.5 % 638.39 30.4 % (73.00) (3.2 %) 325.93 53.5 % 0.22
Q4 2004 505.27 26.1 % 627.00 25.3 % (116.87) (6.9 %) 265.22 49.9 % 0.18
Q1 2005 513.67 17.9 % 682.45 23.0 % (71.63) (17.2 %) 362.44 33.1 % 0.24
Q2 2005 551.89 20.9 % 863.94 42.2 % (68.18) 2.9 % 529.15 74.4 % 0.35
Q3 2005 570.24 16.7 % 793.25 24.3 % (14.01) 80.8 % 520.27 59.6 % 0.35
Q4 2005 553.33 9.5 % 802.06 27.9 % (94.57) 19.1 % 415.77 56.8 % 0.28
Q1 2006 571.66 11.3 % 950.99 39.4 % (51.80) 27.7 % 621.33 71.4 % 0.41
Q2 2006 624.89 13.2 % 1,045.81 21.1 % (15.71) 77.0 % 732.53 38.4 % 0.49
Q3 2006 638.52 12.0 % 929.83 17.2 % (11.05) 21.2 % 591.09 13.6 % 0.39
Q4 2006 689.88 24.7 % 928.74 15.8 % (4.42) 95.3 % 559.79 34.6 % 0.37
Q1 2007 688.97 20.5 % 994.63 4.6 % (18.53) 64.2 % 642.88 3.5 % 0.43
Q2 2007 727.16 16.4 % 1,108.11 6.0 % (31.15) (98.3 %) 724.88 (1.0 %) 0.48
Q3 2007 732.46 14.7 % 972.82 4.6 % (4.00) 63.8 % 607.88 2.8 % 0.41
Q4 2007 755.32 9.5 % 880.70 (5.2 %) (13.45) (204.0 %) 485.56 (13.3 %) 0.32
Q1 2008 875.16 27.0 % 1,045.61 5.1 % (15.00) 19.1 % 672.19 4.6 % 0.45
Q2 2008 855.05 17.6 % 1,179.14 6.4 % (23.13) 25.8 % 752.16 3.8 % 0.50
Q3 2008 825.43 12.7 % 1,042.82 7.2 % (9.17) (129.1 %) 627.72 3.3 % 0.42
Q4 2008 797.90 5.6 % 867.62 (1.5 %) (12.99) 3.4 % 434.06 (10.6 %) 0.29
Q1 2009 912.30 4.2 % 1,157.03 10.7 % (54.72) (264.9 %) 694.83 3.4 % 0.46
Q2 2009 893.89 4.5 % 1,211.76 2.8 % (73.90) (219.6 %) 745.87 (0.8 %) 0.50
Q3 2009 838.31 1.6 % 1,067.33 2.3 % (51.19) (458.3 %) 633.49 0.9 % 0.42
Q4 2009 811.79 1.7 % 1,057.35 21.9 % (346.78) (2,569.4 %) 295.82 (31.8 %) 0.20
Q1 2010 803.04 (12.0 %) 1,124.70 (2.8 %) (96.86) (77.0 %) 633.68 (8.8 %) 0.42
Q2 2010 775.33 (13.3 %) 1,114.87 (8.0 %) (79.43) (7.5 %) 629.45 (15.6 %) 0.42
Q3 2010 779.25 (7.0 %) 1,129.50 5.8 % (377.27) (637.0 %) 346.50 (45.3 %) 0.23
Q4 2010 799.93 (1.5 %) 1,134.71 7.3 % (410.86) (18.5 %) 301.46 1.9 % 0.20
Q1 2011 794.08 (1.1 %) 1,114.05 (0.9 %) (68.03) 29.8 % 587.40 (7.3 %) 0.39
Q2 2011 805.34 3.9 % 1,158.21 3.9 % (55.00) 30.8 % 696.68 10.7 % 0.46
Q3 2011 782.29 0.4 % 1,146.07 1.5 % (198.60) 47.4 % 519.18 49.8 % 0.35
Q4 2011 799.26 (0.1 %) 1,123.14 (1.0 %) (296.27) 27.9 % 367.87 22.0 % 0.25
Q1 2012 772.74 (2.7 %) 1,195.69 7.3 % (89.92) (32.2 %) 655.51 11.6 % 0.44
Q2 2012 842.79 4.7 % 1,255.06 8.4 % (83.84) (52.4 %) 717.98 3.1 % 0.48
Q3 2012 845.75 8.1 % 1,187.74 3.6 % (151.81) 23.6 % 572.70 10.3 % 0.38
Q4 2012 799.15 0.0 % 1,118.34 (0.4 %) (196.23) 33.8 % 424.98 15.5 % 0.28
Q1 2013 775.21 0.3 % 1,268.29 6.1 % (106.27) (18.2 %) 678.70 3.5 % 0.45

Balance Sheet (B)

Period Assets Change Customer Deposits Change Loan Change
Q1 2004 53.45 21.1 % 35.74 17.9 % 21.78 24.7 %
Q2 2004 52.53 17.1 % 37.83 20.3 % 24.46 39.4 %
Q3 2004 54.13 13.0 % 39.36 26.0 % 27.60 45.0 %
Q4 2004 63.33 28.7 % 46.32 37.3 % 28.56 41.6 %
Q1 2005 59.45 11.2 % 43.37 21.3 % 30.14 38.4 %
Q2 2005 61.90 17.8 % 46.78 23.6 % 33.33 36.3 %
Q3 2005 64.33 18.9 % 46.01 16.9 % 36.32 31.6 %
Q4 2005 67.49 6.6 % 48.83 5.4 % 38.78 35.8 %
Q1 2006 71.90 21.0 % 53.16 22.6 % 40.29 33.7 %
Q2 2006 68.87 11.3 % 54.53 16.6 % 43.44 30.3 %
Q3 2006 73.20 13.8 % 58.40 26.9 % 48.49 33.5 %
Q4 2006 78.04 15.6 % 61.77 26.5 % 49.75 28.3 %
Q1 2007 82.18 14.3 % 63.25 19.0 % 50.42 25.1 %
Q2 2007 82.51 19.8 % 64.24 17.8 % 52.83 21.6 %
Q3 2007 85.63 17.0 % 66.16 13.3 % 57.79 19.2 %
Q4 2007 94.47 21.1 % 73.69 19.3 % 61.12 22.9 %
Q1 2008 103.96 26.5 % 78.84 24.6 % 65.32 29.6 %
Q2 2008 110.33 33.7 % 84.91 32.2 % 69.88 32.3 %
Q3 2008 115.68 35.1 % 88.56 33.8 % 74.55 29.0 %
Q4 2008 121.31 28.4 % 92.74 25.9 % 74.66 22.2 %
Q1 2009 112.41 8.1 % 84.52 7.2 % 72.81 11.5 %
Q2 2009 115.08 4.3 % 85.23 0.4 % 71.17 1.8 %
Q3 2009 111.86 (3.3 %) 80.50 (9.1 %) 68.79 (7.7 %)
Q4 2009 110.30 (9.1 %) 82.68 (10.9 %) 66.81 (10.5 %)
Q1 2010 110.06 (2.1 %) 77.65 (8.1 %) 65.44 (10.1 %)
Q2 2010 106.21 (7.7 %) 78.35 (8.1 %) 64.79 (9.0 %)
Q3 2010 101.37 (9.4 %) 77.38 (3.9 %) 65.28 (5.1 %)
Q4 2010 116.03 5.2 % 84.20 1.8 % 66.20 (0.9 %)
Q1 2011 120.49 9.5 % 88.48 13.9 % 67.32 2.9 %
Q2 2011 109.04 2.7 % 84.52 7.9 % 69.09 6.6 %
Q3 2011 116.67 15.1 % 85.77 10.8 % 71.69 9.8 %
Q4 2011 117.57 1.3 % 87.86 4.3 % 72.84 10.0 %
Q1 2012 125.42 4.1 % 90.69 2.5 % 75.57 12.3 %
Q2 2012 120.39 10.4 % 94.82 12.2 % 80.74 16.9 %
Q3 2012 125.35 7.4 % 98.27 14.6 % 83.65 16.7 %
Q4 2012 136.64 16.2 % 107.56 22.4 % 86.33 18.5 %
Q1 2013 133.67 6.6 % 109.09 20.3 % 85.97 13.8 %

Profitability

Period Return On Average Assets Return on Average Equity Net Interest Income/Total Operating Income
Q1 2004 1.75 % 21.17 % 78.95 %
Q2 2004 1.98 % 23.14 % 77.88 %
Q3 2004 2.11 % 24.29 % 77.42 %
Q4 2004 2.07 % 26.08 % 77.69 %
Q1 2005 2.23 % 26.48 % 76.87 %
Q2 2005 2.59 % 30.48 % 73.25 %
Q3 2005 2.83 % 31.71 % 72.17 %
Q4 2005 2.79 % 32.33 % 69.68 %
Q1 2006 3.18 % 35.25 % 65.89 %
Q2 2006 3.50 % 37.13 % 64.59 %
Q3 2006 3.43 % 35.04 % 64.05 %
Q4 2006 3.44 % 34.99 % 65.49 %
Q1 2007 3.28 % 32.94 % 67.77 %
Q2 2007 3.33 % 31.13 % 69.28 %
Q3 2007 3.19 % 28.97 % 70.89 %
Q4 2007 2.85 % 26.60 % 73.40 %
Q1 2008 2.68 % 25.16 % 77.11 %
Q2 2008 2.61 % 23.98 % 78.91 %
Q3 2008 2.52 % 22.97 % 79.82 %
Q4 2008 2.30 % 21.44 % 81.10 %
Q1 2009 2.32 % 21.27 % 79.84 %
Q2 2009 2.22 % 20.06 % 80.14 %
Q3 2009 2.20 % 19.22 % 79.99 %
Q4 2009 2.05 % 17.53 % 76.92 %
Q1 2010 2.08 % 17.11 % 75.03 %
Q2 2010 1.98 % 15.46 % 73.98 %
Q3 2010 1.79 % 12.83 % 71.60 %
Q4 2010 1.69 % 12.89 % 70.11 %
Q1 2011 1.62 % 12.59 % 70.08 %
Q2 2011 1.80 % 12.35 % 70.07 %
Q3 2011 1.93 % 13.03 % 69.88 %
Q4 2011 1.86 % 13.61 % 70.04 %
Q1 2012 1.82 % 14.10 % 68.34 %
Q2 2012 1.97 % 13.57 % 67.74 %
Q3 2012 1.91 % 13.48 % 68.48 %
Q4 2012 1.87 % 13.77 % 68.54 %
Q1 2013 1.85 % 13.97 % 67.56 %