Riyadh –  Saudi National Bank (SNB) has logged net profits worth SAR 4.50 billion in the first three months (3M) of 2022, an annual hike of 32.10% from SAR 3.40 billion.

Earnings per share (EPS) edged down to SAR 0.98 during the first quarter (Q1) of 2022, versus SAR 1.10 in Q1-21, according to the interim financials on Wednesday.

Meanwhile, the clients' deposits leaped by 44.23% to SAR 604.96 billion in Q1-22 from SAR 419.43 billion in Q1-21.

During the January-March period in 2022, the bank's assets enlarged by 53.70% to SAR 921.56 billion from SAR 599.56 billion in the same period a year earlier.

On a quarterly basis, the net profits in Q1-22 jumped by 34.10% from SAR 3.35 billion in Q4-21.

In 2021, the Saudi lender posted a 10.73% year-on-year (YoY) growth in net profit to SAR 12.67 billion from SAR 11.44 billion.

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