Arab National Bank (ANB) reported a net profit of SAR 2.177 billion for 2021, a rise of 5% from SAR 2.072 billion a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 4,868.66 | 4,672.03 | (4.0 %) |
| Operating Income | 5,824.24 | 5,591.94 | (4.0 %) |
| Total Provisions | (1282.20) | (1030.51) | 19.6 % |
| Net Income | 2,072.21 | 2,176.59 | 5.0 % |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 1.38 | 1.45 | 5.0 % |
| EPS Diluted (Riyals) | 1.38 | 1.45 | 5.1 % |
The profit growth was driven by higher gains from fair value through income statement (FVSI) financial instruments, gains on sale of investments in non-trading instruments, trading income, and dividend income. ANB also reported a decrease in the expected credit loss (ECL) provisions, rent and premises related expenses, as well as depreciation and amortization.
The fourth-quarter net profit climbed 67% year-on-year (YoY) to SAR 456.8 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,168.21 | 1,109.95 | (5.0 %) |
| Operating Income | 1,401.07 | 1,333.91 | (4.8 %) |
| Debt Provisions | (534.74) | (214.28) | 59.9 % |
| Net Income | 273.87 | 456.35 | 66.6 % |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 0.18 | 0.30 | 66.6 % |
| EPS Diluted (Riyal) | 0.18 | 0.30 | 66.7 % |
On a sequential basis, Q4 net profit dropped 31.4% from SAR 665.35 million.
Shareholders’ equity, after minority interest, increased to SAR 31.101 billion in 2021, from SAR 29.734 billion a year earlier.
Provisions for expected credit losses for 2021 amounted to SAR 1.034 billion, compared to SAR 1.271 billion in 2020, a decrease of 19%.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Assets | 180.40 | 192.50 | 6.7 % |
| Customer Deposits | 129.35 | 135.71 | 4.9 % |
| Loan | 113.36 | 126.67 | 11.7 % |
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