Saudi: SNB’s profits up to $4.15bln in 9M-24 financials

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The Saudi National Bank (SNB) recorded a 3.91% year-on-year (YoY) increase in net profit to SAR 15.63 billion during the first nine months (9M) of 2024, compared to SAR 15.04 billion.

The earnings per share (EPS) climbed to SAR 2.53 in 9M-24 from SAR 2.42 a year earlier, according to the interim financial statements.

Moreover, the clients’ deposits amounted to SAR 634.19 billion as of 30 September 2024, up 1.50% YoY from SAR 624.76 billion.

Assets increased 9.94% to SAR 1.12 trillion in 9M-24 from SAR 1.02 trillion in 9M-23, while investments rose by 8.88% to SAR 290.46 billion from SAR 266.77 billion.

Income Results for Q3-24

The bank's net profits stood at SAR 5.36 billion during the third quarter (Q3) of 2024, higher by 7.10% than SAR 5.01 billion in the year-ago period.

On a quarterly basis, the Q3-24 profits grew by 2.58% from the SAR 5.23 billion recorded in Q2-24.