Arab National Bank (ANB) reported a net profit of SAR 1.129 billion for the first half of 2020, a slump of 32% year-on-year (YoY), driven by a decline of 12.1% in gross operating income, lower net special commission income and increased operating expenses.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,802.31 | 2,489.81 | (11.2 %) |
| Operating Income | 3,367.10 | 2,959.34 | (12.1 %) |
| Total Provisions | (335.58) | (543.78) | (62.0 %) |
| Net Income | 1,673.22 | 1,129.74 | (32.5 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.84 | 0.56 | (32.5 %) |
| EPS Diluted (Riyals) | 0.84 | 0.56 | (32.5 %) |
ANB's net profit for the second quarter declined 46% YoY to SAR 486 million, due to lower gross operating income, decreased net special commission income, and the slump in profit share from associates.
The bank also cited a 21.5% rise in total operating expenses.
On a quarter-on-quarter basis, the profit for the current quarter dropped by 22.58%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,437.47 | 1,199.05 | (16.6 %) |
| Operating Income | 1,733.94 | 1,469.73 | (15.2 %) |
| Debt Provisions | (187.58) | (345.43) | (84.1 %) |
| Net Income | 894.24 | 485.95 | (45.7 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.45 | 0.24 | (45.7 %) |
| EPS Diluted (Riyal) | 0.45 | 0.24 | (45.6 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,290.76 | 1,199.05 | (7.1 %) |
| Operating Income | 1,489.61 | 1,469.73 | (1.3 %) |
| Debt Provisions | (198.35) | (345.43) | (74.2 %) |
| Net Income | 643.79 | 485.95 | (24.5 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.32 | 0.24 | (24.5 %) |
| EPS Diluted (Riyal) | 0.32 | 0.24 | (24.5 %) |
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Assets | 170.90 | 187.30 | 9.6 % |
| Customer Deposits | 131.91 | 133.90 | 1.5 % |
| Loan | 119.75 | 117.13 | (2.2 %) |
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