Saudi: ANB’s profits exceed $639.26mln in H1-24

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Arab National Bank (ANB) logged net profits valued at SAR 2.46 billion in the first half (H1) of 2024, up 20.05% year-on-year (YoY) from SAR 2.05 billion.

Earnings per share (EPS) increased to SAR 1.23 in H1-24 from SAR 1.03 in H1-23, according to the interim financials.

ANB posted clients' deposits valued at SAR 175.58 billion in the first six months (6M) of 2024, marking an annual rise of 10.86% from SAR 158.37 billion.

The assets grew by 8.68% YoY to SAR 234.75 billion as of 30 June 2024 from SAR 215.98 billion, while the investments surged by 7.80% YoY to SAR 48.12 billion from SAR 44.64 billion.

Income Statements for Q2-24

In the second quarter (Q2) of 2024, the Saudi lender logged net profits worth SAR 1.231 billion, higher by 24.84% than SAR 986 million in Q2-23.

Quarterly, the Q2-24 net profits fell by 0.40% from SAR 1.236 billion in the January-March 2024 period.