Saudi: SNB records growth in H1-24 net profits

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Earnings per share (EPS) went up to SAR 1.66 in H1-24 from SAR 1.62 a year earlier, while the clients' deposits grew by 5.06% to SAR 632.69 billion from SAR 602.20 billion

Staff Writer, Mubasher

August 5, 2024

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The Saudi National Bank (SNB) posted 2.32% higher net profits at SAR 10.27 billion in the first half (H1) of 2024, compared to SAR 10.03 billion in H1-23, according to the interim financials.

Earnings per share (EPS) went up to SAR 1.66 in H1-24 from SAR 1.62 a year earlier, while the clients' deposits grew by 5.06% to SAR 632.69 billion from SAR 602.20 billion.

The assets increased by 9.22% to SAR 1.08 trillion as of 30 June 2024 from SAR 996.20 billion in H1-23, while the investments climbed by 8.27% to SAR 286.73 billion from SAR 264.82 billion.

Financials for Q2-24

In the second quarter (Q2) of 2024, SNB achieved net profits valued at SAR 5.23 billion, marking an annual rise of 4.28% from SAR 5.01 billion.

On a quarterly basis, the Q2-24 net profits hiked by 3.78% from SAR 5.04 billion Q1-24.

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