Saudi's Arab National Bank net profits fall to $266mln in H1-21

On a quarterly basis, ANB’s net profits in Q2-21 were 18.7%

  
Traders monitor stock prices on screens at the Saudi Investment Bank in Riyadh. Image used for illustrative purpose

Traders monitor stock prices on screens at the Saudi Investment Bank in Riyadh. Image used for illustrative purpose

REUTERS/Faisal AlNasser
Riyadh – Arab National Bank (ANB) recorded a net profit after Zakat and tax worth SAR 1.05 billion in the first half (H1) of 2021, down 6.6% from SAR 1.13 billion in H1-20.

Earnings per share amounted to SAR 0.7 in H1-21, compared to SAR 0.75 in H1-20, according to the financial results on Wednesday.

ANB’s assets totalled SAR 181.87 billion at the end of June 2021, lower by 2.8% than SAR 187.29 billion in the same period last year.

Clients’ deposits decreased by 2.74% to SAR 130.22 billion in H1-21 from SAR 133.89 billion in H1-20.

In the second quarter (Q2) of 2021, the lender posted a decrease of 2.6% in net profits to SAR 473 million from SAR 486 million in Q2-20.

On a quarterly basis, ANB’s net profits in Q2-21 were 18.7% lower than SAR 582 million in Q1-21.

The bank has paid a total of SAR 525 million as cash dividends for H1-21.

Source: Mubasher

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