ANB reports 24% profit decline in FY19

26/02/2020 Argaam Exclusive

Arab National Bank (ANB) reported a net profit of SAR 3.02 billion for the fiscal year of 2019, down by 23.8% year-on-year (YoY), the bank said in a bourse statement.

 

The earnings drop was mainly attributed to SAR 1.1 billion worth of Zakat settlement between the bank and the General Authority for Zakat and Tax (GAZT).

Financials (M)

Item 2018 2019 Change‬
Net Special Commission Income 5,151.44 5,552.94 7.8 %
Operating Income 6,534.82 6,732.84 3.0 %
Debt Provisions (998.32) (970.60) 2.8 %
Net Income 3,969.01 3,023.24 (23.8 %)
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) 2.65 2.02 (23.8 %)
EPS Diluted (Riyals) - 2.02 -

The bank’s Q4 2019 net profit also plunged by 72% YoY to SAR 515 million.

Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Net Special Commission Income 1,363.08 1,340.20 (1.7 %)
Operating Income 1,671.49 1,629.03 (2.5 %)
Debt Provisions (407.28) (424.67) (4.3 %)
Net Income 1,826.30 515.26 (71.8 %)
Average Shares 1,500.00 1,500.00 -
EPS 1.22 (Riyal) 34.35 (Halala) (71.8 %)
EPS Diluted - 34.60 (Halala) -

Balance Sheet (B)

Item 2018 2019 Change‬
Assets 178.35 183.44 2.9 %
Customer Deposits 142.06 142.13 0.0 %
Loan 121.04 118.84 (1.8 %)

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Share Price

Arab National Bank
23.40
(0.30) (1.27 %)

Arab National Bank (ANB)

Financial Ratios
Current
Market Cap (M Riyal) 35,100.00
Shares Outstanding ((M)) 1,500.00
EPS ( Riyal) (TTM) 2.51
EPS Diluted ( Riyal) (TTM) 2.5107
Book Value (BV) ( Riyal) 22.47
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.72
P/E (TTM) 9.32
Price/book 1.04
Return on Average Assets (%) (TTM) 1.8
Return on Average Equity (%) (TTM) 11.6
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