Saudi National Bank 2021 net profit jumps 11% to SAR 12.7 bln; Q4 profit at SAR 3.4 bln

02/02/2022 Argaam Exclusive

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Saudi National Bank (SNB) reported a net profit of SAR 12.7 billion for 2021, a rise of 11% from SAR 11.44 billion in the year-ago period.

Financials (M)

Item	2020	2021	Change‬
Net Special Commission Income	16,684.66	22,207.59	33.1 %
Operating Income	21,457.93	28,235.72	31.6 %
Total Provisions	(1949.69)	(4022.73)	(106.3 %)
Net Income	11,440.10	12,668.18	10.7 %
Average Shares	4,019.65	5,504.91	36.9 %
EPS (Riyals)	2.85	2.30	(19.1 %)
EPS Diluted (Riyals)	3.02	3.02	0.0 %

After the merger with Samba Financial Group on April 1, 2021, the bank recorded 10.7% higher net income due to an increase in operating income.

This was partially offset by higher operating expenses, including net impairment charge for expected credit losses.

Total operating income increased by 32.6% from higher net special commission income, investment related income, fee income from banking services, and foreign exchange income. This was partially offset by higher other operating expenses.

Total operating expenses, including impairments, were higher by 63.2% due to a rise in net impairment charge for expected credit losses pertaining to the day 1 of the merger as per IFRS requirements; other general and administrative expenses; salaries and employee expenses; depreciation/amortisation of property, equipment & software; right of use assets; amortization of intangible assets; and higher rent and premises expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Net Special Commission Income	4,372.15	5,935.26	35.8 %
Operating Income	5,749.32	7,054.16	22.7 %
Debt Provisions	(348.00)	(527.75)	(51.7 %)
Net Income	3,359.77	2,963.56	(11.8 %)
Average Shares	4,019.65	5,504.91	36.9 %
EPS (Riyals)	0.84	0.54	(35.6 %)
EPS Diluted (Riyal)	0.78	0.78	0.0 %

Item	Q3 2021	Q4 2021	Change‬
Net Special Commission Income	6,205.90	5,935.26	(4.4 %)
Operating Income	7,874.43	7,054.16	(10.4 %)
Debt Provisions	(732.08)	(527.75)	27.9 %
Net Income	3,980.27	2,963.56	(25.5 %)
Average Shares	5,504.91	5,504.91	-
EPS (Riyals)	0.72	0.54	(25.5 %)
EPS Diluted (Riyal)	0.76	0.78	2.0 %

In Q4 2021, the bank reported a net profit of SAR 3.4 billion, a marginal increase by 0.1% year-on-year (YoY).

Shareholders’ equity, after minority interest, increased to SAR 162.2 billion by the end of the current period from SAR 79.4 billion a year earlier.

Balance Sheet (B)

Item	2020	2021	Change‬
Assets	599.44	914.15	52.5 %
Customer Deposits	416.42	588.57	41.3 %
Loan	346.71	497.57	43.5 %

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
Q1 2012	2,303.73	11.2 %	3,703.85	21.1 %	(395.58)	(33.4 %)
Q2 2012	2,176.14	2.8 %	3,380.72	9.9 %	(351.03)	14.0 %
Q3 2012	2,332.29	7.3 %	3,271.63	6.9 %	(424.82)	(100.2 %)
Q4 2012	2,147.42	(3.3 %)	3,152.71	7.3 %	(264.59)	(127.1 %)
2012	8,959.58	4.4 %	13,508.91	11.3 %	(1,436.01)	(39.0 %)
Q1 2013	2,533.05	10.0 %	4,065.77	9.8 %	(259.83)	34.3 %
Q2 2013	2,546.09	17.0 %	3,699.88	9.4 %	(156.08)	55.5 %
Q3 2013	2,373.59	1.8 %	3,423.34	4.6 %	(199.61)	53.0 %
Q4 2013	2,643.48	23.1 %	3,668.53	16.4 %	(179.83)	32.0 %
2013	10,096.20	12.7 %	14,857.52	10.0 %	(795.35)	44.6 %
Q1 2014	2,708.28	6.9 %	3,864.29	(5.0 %)	(205.65)	20.9 %
Q2 2014	2,842.93	11.7 %	4,214.98	13.9 %	91.77	158.8 %
Q3 2014	2,790.58	17.6 %	4,114.35	20.2 %	(400.86)	(100.8 %)
Q4 2014	3,062.34	15.8 %	4,053.41	10.5 %	(480.72)	(167.3 %)
2014	11,404.13	13.0 %	16,247.03	9.4 %	(995.46)	(25.2 %)
Q1 2015	3,033.56	12.0 %	4,447.54	15.1 %	(218.33)	(6.2 %)
Q2 2015	3,122.72	9.8 %	4,282.93	1.6 %	(278.85)	(403.9 %)
Q3 2015	3,255.60	16.7 %	4,312.86	4.8 %	(713.13)	(77.9 %)
Q4 2015	3,169.96	3.5 %	4,442.37	9.6 %	(390.05)	18.9 %
2015	12,581.83	10.3 %	17,485.69	7.6 %	(1,600.35)	(60.8 %)
Q1 2016	3,435.82	13.3 %	4,723.97	6.2 %	(346.63)	(58.8 %)
Q2 2016	3,348.18	7.2 %	4,660.25	8.8 %	(381.30)	(36.7 %)
Q3 2016	3,441.72	5.7 %	4,662.80	8.1 %	(839.11)	(17.7 %)
Q4 2016	3,323.86	4.9 %	4,600.36	3.6 %	(363.93)	6.7 %
2016	13,549.58	7.7 %	18,647.38	6.6 %	(1,930.97)	(20.7 %)
Q1 2017	3,359.46	(2.2 %)	4,859.82	2.9 %	(421.98)	(21.7 %)
Q2 2017	3,472.91	3.7 %	4,478.34	(3.9 %)	(477.71)	(25.3 %)
Q3 2017	3,453.44	0.3 %	4,491.53	(3.7 %)	(707.21)	15.7 %
Q4 2017	3,375.17	1.5 %	4,515.54	(1.8 %)	(285.96)	21.4 %
2017	13,660.98	0.8 %	18,345.23	(1.6 %)	(1,892.86)	2.0 %
Q1 2018	3,418.57	1.8 %	4,779.24	(1.7 %)	2.34	100.6 %
Q2 2018	3,573.43	2.9 %	4,660.55	4.1 %	(335.31)	29.8 %
Q3 2018	3,637.42	5.3 %	4,731.60	5.3 %	(610.35)	13.7 %
Q4 2018	4,493.72	33.1 %	4,755.83	5.3 %	(403.75)	(41.2 %)
2018	15,123.14	10.7 %	18,927.22	3.2 %	(1,347.07)	28.8 %
Q1 2019	3,754.08	9.8 %	4,950.81	3.6 %	(145.33)	(6323.9 %)
Q2 2019	3,907.43	9.3 %	5,050.41	8.4 %	(324.74)	3.2 %
Q3 2019	3,872.62	6.5 %	4,996.53	5.6 %	(662.64)	(8.6 %)
Q4 2019	4,848.32	7.9 %	5,576.93	17.3 %	(287.23)	28.9 %
2019	16,382.45	8.3 %	20,574.68	8.7 %	(1,447.16)	(7.4 %)
Q1 2020	4,157.22	10.7 %	5,305.26	7.2 %	(396.09)	(172.6 %)
Q2 2020	3,957.52	1.3 %	4,765.75	(5.6 %)	(827.95)	(155.0 %)
Q3 2020	4,197.76	8.4 %	5,637.61	12.8 %	(378.85)	42.8 %
Q4 2020	4,372.15	(9.8 %)	5,749.32	3.1 %	(348.00)	(21.2 %)
2020	16,684.66	1.8 %	21,457.93	4.3 %	(1,949.69)	(34.7 %)
Q1 2021	4,178.08	0.5 %	5,719.31	7.8 %	(286.37)	27.7 %
Q2 2021	5,888.35	48.8 %	7,587.82	59.2 %	(2,414.67)	(191.6 %)
Q3 2021	6,205.90	47.8 %	7,874.43	39.7 %	(732.08)	(93.2 %)
Q4 2021	5,935.26	35.8 %	7,054.16	22.7 %	(527.75)	(51.7 %)
2021	22,207.59	33.1 %	28,235.72	31.6 %	(4,022.73)	(106.3 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2012	8,959.58	4.4 %	13,508.91	11.3 %	(1,436.01)	(39.0 %)
2013	10,096.20	12.7 %	14,857.52	10.0 %	(795.35)	44.6 %
2014	11,404.13	13.0 %	16,247.03	9.4 %	(995.46)	(25.2 %)
2015	12,581.83	10.3 %	17,485.69	7.6 %	(1,600.35)	(60.8 %)
2016	13,549.58	7.7 %	18,647.38	6.6 %	(1,930.97)	(20.7 %)
2017	13,660.98	0.8 %	18,345.23	(1.6 %)	(1,892.86)	2.0 %
2018	15,123.14	10.7 %	18,927.22	3.2 %	(1,347.07)	28.8 %
2019	16,382.45	8.3 %	20,574.68	8.7 %	(1,447.16)	(7.4 %)
2020	16,684.66	1.8 %	21,457.93	4.3 %	(1,949.69)	(34.7 %)
2021	22,207.59	33.1 %	28,235.72	31.6 %	(4,022.73)	(106.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2012	1,953.74	30.0 %	0.49	-	1,953.74	0.49
Q2 2012	1,608.14	12.9 %	0.40	-	1,608.14	0.40
Q3 2012	1,480.49	(4.2 %)	0.37	-	1,480.49	0.37
Q4 2012	1,410.44	(8.3 %)	0.35	-	1,410.44	0.35
2012	6,452.80	7.3 %	1.61	-	6,452.80	1.61
Q1 2013	2,331.96	19.4 %	0.58	-	2,331.96	0.58
Q2 2013	1,992.11	23.9 %	0.50	-	1,992.11	0.50
Q3 2013	1,733.21	17.1 %	0.43	-	1,733.21	0.43
Q4 2013	1,794.93	27.3 %	0.45	-	1,794.93	0.45
2013	7,852.20	21.7 %	1.95	-	7,852.20	1.95
Q1 2014	2,535.31	8.7 %	0.63	-	2,535.31	0.63
Q2 2014	2,425.41	21.8 %	0.60	-	2,425.41	0.60
Q3 2014	1,869.11	7.8 %	0.46	-	1,869.11	0.46
Q4 2014	1,825.33	1.7 %	0.45	-	1,825.33	0.45
2014	8,655.15	10.2 %	2.15	-	8,655.15	2.15
Q1 2015	2,605.57	2.8 %	0.65	-	2,605.57	0.65
Q2 2015	2,362.92	(2.6 %)	0.59	-	2,362.92	0.59
Q3 2015	1,994.14	6.7 %	0.50	-	1,994.14	0.50
Q4 2015	2,126.56	16.5 %	0.53	-	2,126.56	0.53
2015	9,089.18	5.0 %	2.26	-	9,089.18	2.26
Q1 2016	2,630.81	1.0 %	0.65	-	2,630.81	0.65
Q2 2016	2,437.54	3.2 %	0.61	-	2,437.54	0.61
Q3 2016	1,961.78	(1.6 %)	0.49	-	1,961.78	0.49
Q4 2016	2,286.72	7.5 %	0.57	-	2,286.72	0.57
2016	9,316.86	2.5 %	2.32	-	9,316.86	2.32
Q1 2017	2,702.56	2.7 %	0.67	-	2,702.56	0.67
Q2 2017	2,417.42	(0.8 %)	0.60	-	2,417.42	0.60
Q3 2017	2,125.61	8.4 %	0.53	-	2,125.61	0.53
Q4 2017	2,556.39	11.8 %	0.64	-	2,556.39	0.64
2017	9,801.98	5.2 %	2.44	-	9,801.98	2.44
Q1 2018	2,592.19	(4.1 %)	0.64	-	2,592.19	0.64
Q2 2018	2,166.35	(10.4 %)	0.54	-	2,166.35	0.54
Q3 2018	2,120.36	(0.2 %)	0.53	-	2,120.36	0.53
Q4 2018	2,705.58	5.8 %	0.67	-	2,705.58	0.67
2018	9,593.95	(2.1 %)	2.39	-	9,593.95	2.39
Q1 2019	2,775.54	7.1 %	0.69	-	2,775.54	0.69
Q2 2019	2,685.59	24.0 %	0.67	-	2,685.59	0.67
Q3 2019	2,550.70	20.3 %	0.63	-	2,550.70	0.63
Q4 2019	3,389.61	25.3 %	0.84	-	3,389.61	0.84
2019	11,401.44	18.8 %	2.84	-	11,401.44	2.84
Q1 2020	2,834.20	2.1 %	0.71	-	2,834.20	0.71
Q2 2020	2,087.73	(22.3 %)	0.52	-	2,087.73	0.52
Q3 2020	3,158.40	23.8 %	0.79	-	3,158.40	0.79
Q4 2020	3,359.77	(0.9 %)	0.84	-	3,359.77	0.84
2020	11,440.10	0.3 %	2.85	-	11,440.10	2.85
Q1 2021	3,408.47	20.3 %	0.62	-	3,408.47	0.62
Q2 2021	2,315.88	10.9 %	0.42	(42.00)	2,357.88	0.43
Q3 2021	3,980.27	26.0 %	0.72	(31.00)	4,011.27	0.73
Q4 2021	2,963.56	(11.8 %)	0.54	(90.00)	3,053.56	0.55
2021	12,668.18	10.7 %	2.30	(163.00)	12,831.18	2.33

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	6,452.80	7.3 %	1.61	-	6,452.80	1.61
2013	7,852.20	21.7 %	1.95	-	7,852.20	1.95
2014	8,655.15	10.2 %	2.15	-	8,655.15	2.15
2015	9,089.18	5.0 %	2.26	-	9,089.18	2.26
2016	9,316.86	2.5 %	2.32	-	9,316.86	2.32
2017	9,801.98	5.2 %	2.44	-	9,801.98	2.44
2018	9,593.95	(2.1 %)	2.39	-	9,593.95	2.39
2019	11,401.44	18.8 %	2.84	-	11,401.44	2.84
2020	11,440.10	0.3 %	2.85	-	11,440.10	2.85
2021	12,668.18	10.7 %	2.30	(163.00)	12,831.18	2.33

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2012	2.11 %	19.02 %	68.97 %
Q2 2012	2.10 %	19.84 %	67.82 %
Q3 2012	2.10 %	18.80 %	67.93 %
Q4 2012	2.00 %	17.96 %	66.32 %
2012	2.00 %	17.96 %	66.32 %
Q1 2013	2.03 %	18.53 %	66.25 %
Q2 2013	2.11 %	19.21 %	67.36 %
Q3 2013	2.17 %	19.39 %	66.94 %
Q4 2013	2.17 %	19.97 %	67.95 %
2013	2.17 %	19.97 %	67.95 %
Q1 2014	2.07 %	19.96 %	70.08 %
Q2 2014	2.13 %	20.09 %	69.66 %
Q3 2014	2.14 %	20.33 %	69.25 %
Q4 2014	2.13 %	20.09 %	70.19 %
2014	2.13 %	20.09 %	70.19 %
Q1 2015	2.01 %	19.45 %	69.69 %
Q2 2015	1.93 %	18.71 %	71.07 %
Q3 2015	1.92 %	19.01 %	72.96 %
Q4 2015	2.06 %	19.41 %	71.96 %
2015	2.06 %	19.41 %	71.96 %
Q1 2016	2.02 %	18.46 %	73.10 %
Q2 2016	2.01 %	18.39 %	72.82 %
Q3 2016	2.00 %	18.35 %	72.45 %
Q4 2016	2.09 %	18.36 %	72.66 %
2016	2.09 %	18.36 %	72.66 %
Q1 2017	2.08 %	17.67 %	71.73 %
Q2 2017	2.07 %	17.88 %	73.10 %
Q3 2017	2.15 %	17.92 %	73.84 %
Q4 2017	2.21 %	17.97 %	74.47 %
2017	2.21 %	17.97 %	74.47 %
Q1 2018	2.18 %	17.36 %	75.12 %
Q2 2018	2.08 %	17.18 %	74.92 %
Q3 2018	2.08 %	17.16 %	74.94 %
Q4 2018	2.14 %	16.85 %	79.90 %
2018	2.14 %	16.86 %	79.90 %
Q1 2019	2.16 %	16.78 %	80.94 %
Q2 2019	2.21 %	17.70 %	81.04 %
Q3 2019	2.24 %	18.75 %	81.14 %
Q4 2019	2.38 %	19.13 %	79.62 %
2019	2.38 %	19.13 %	79.62 %
Q1 2020	2.29 %	19.68 %	80.20 %
Q2 2020	2.10 %	17.85 %	81.55 %
Q3 2020	2.14 %	18.49 %	80.62 %
Q4 2020	2.07 %	17.51 %	77.76 %
2020	2.07 %	17.51 %	77.76 %
Q1 2021	2.12 %	18.77 %	76.38 %
Q2 2021	1.68 %	11.66 %	75.47 %
Q3 2021	1.76 %	12.26 %	76.66 %
Q4 2021	1.67 %	11.56 %	78.65 %
2021	1.67 %	11.56 %	78.65 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2012	2.00 %	17.96 %	66.32 %
2013	2.17 %	19.97 %	67.95 %
2014	2.13 %	20.09 %	70.19 %
2015	2.06 %	19.41 %	71.96 %
2016	2.09 %	18.36 %	72.66 %
2017	2.21 %	17.97 %	74.47 %
2018	2.14 %	16.86 %	79.90 %
2019	2.38 %	19.13 %	79.62 %
2020	2.07 %	17.51 %	77.76 %
2021	1.67 %	11.56 %	78.65 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2012	313.64	4.9 %	247.92	3.6 %	142.34	14.0 %
Q2 2012	320.42	2.1 %	250.27	(0.2 %)	150.27	15.4 %
Q3 2012	320.80	4.5 %	251.33	3.4 %	157.21	21.1 %
Q4 2012	345.26	14.6 %	273.53	14.2 %	163.46	20.8 %
Q1 2013	358.02	14.1 %	276.68	11.6 %	170.63	19.9 %
Q2 2013	362.80	13.2 %	288.05	15.1 %	178.21	18.6 %
Q3 2013	367.09	14.4 %	294.78	17.3 %	184.40	17.3 %
Q4 2013	377.29	9.3 %	300.60	9.9 %	187.69	14.8 %
Q1 2014	420.37	17.4 %	333.07	20.4 %	197.39	15.7 %
Q2 2014	435.53	20.0 %	345.60	20.0 %	206.19	15.7 %
Q3 2014	437.91	19.3 %	343.94	16.7 %	213.53	15.8 %
Q4 2014	434.88	15.3 %	333.10	10.8 %	220.72	17.6 %
Q1 2015	449.80	7.0 %	342.85	2.9 %	227.13	15.1 %
Q2 2015	461.41	5.9 %	360.98	4.5 %	234.28	13.6 %
Q3 2015	476.83	8.9 %	367.37	6.8 %	238.60	11.7 %
Q4 2015	448.64	3.2 %	323.87	(2.8 %)	252.94	14.6 %
Q1 2016	452.00	0.5 %	326.03	(4.9 %)	265.34	16.8 %
Q2 2016	452.61	(1.9 %)	314.71	(12.8 %)	264.77	13.0 %
Q3 2016	438.76	(8.0 %)	311.23	(15.3 %)	259.92	8.9 %
Q4 2016	442.66	(1.3 %)	315.62	(2.5 %)	253.59	0.3 %
Q1 2017	449.00	(0.7 %)	313.65	(3.8 %)	254.20	(4.2 %)
Q2 2017	450.49	(0.5 %)	314.69	0.0 %	256.90	(3.0 %)
Q3 2017	446.19	1.7 %	302.59	(2.8 %)	256.85	(1.2 %)
Q4 2017	444.79	0.5 %	308.94	(2.1 %)	249.23	(1.7 %)
Q1 2018	438.90	(2.2 %)	309.00	(1.5 %)	252.78	(0.6 %)
Q2 2018	455.73	1.2 %	317.65	0.9 %	266.04	3.6 %
Q3 2018	460.83	3.3 %	325.46	7.6 %	268.25	4.4 %
Q4 2018	452.18	1.7 %	318.70	3.2 %	265.06	6.4 %
Q1 2019	464.91	5.9 %	309.68	0.2 %	267.22	5.7 %
Q2 2019	476.59	4.6 %	327.44	3.1 %	274.83	3.3 %
Q3 2019	496.59	7.8 %	340.38	4.6 %	279.07	4.0 %
Q4 2019	506.82	12.1 %	353.39	10.9 %	281.84	6.3 %
Q1 2020	534.56	15.0 %	375.05	21.1 %	304.77	14.1 %
Q2 2020	556.86	16.8 %	380.40	16.2 %	315.84	14.9 %
Q3 2020	576.63	16.1 %	408.47	20.0 %	336.41	20.5 %
Q4 2020	599.44	18.3 %	416.42	17.8 %	346.71	23.0 %
Q1 2021	599.57	12.2 %	419.43	11.8 %	356.72	17.0 %
Q2 2021	897.36	61.1 %	588.13	54.6 %	501.80	58.9 %
Q3 2021	903.85	56.7 %	589.19	44.2 %	502.48	49.4 %
Q4 2021	914.15	52.5 %	588.57	41.3 %	497.57	43.5 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2012	313.64	4.9 %	247.92	3.6 %	142.34	14.0 %
6m 2012	320.42	2.1 %	250.27	(0.2 %)	150.27	15.4 %
9m 2012	320.80	4.5 %	251.33	3.4 %	157.21	21.1 %
12m 2012	345.26	14.6 %	273.53	14.2 %	163.46	20.8 %
3m 2013	358.02	14.1 %	276.68	11.6 %	170.63	19.9 %
6m 2013	362.80	13.2 %	288.05	15.1 %	178.21	18.6 %
9m 2013	367.09	14.4 %	294.78	17.3 %	184.40	17.3 %
12m 2013	377.29	9.3 %	300.60	9.9 %	187.69	14.8 %
3m 2014	420.37	17.4 %	333.07	20.4 %	197.39	15.7 %
6m 2014	435.53	20.0 %	345.60	20.0 %	206.19	15.7 %
9m 2014	437.91	19.3 %	343.94	16.7 %	213.53	15.8 %
12m 2014	434.88	15.3 %	333.10	10.8 %	220.72	17.6 %
3m 2015	449.80	7.0 %	342.85	2.9 %	227.13	15.1 %
6m 2015	461.41	5.9 %	360.98	4.5 %	234.28	13.6 %
9m 2015	476.83	8.9 %	367.37	6.8 %	238.60	11.7 %
12m 2015	448.64	3.2 %	323.87	(2.8 %)	252.94	14.6 %
3m 2016	452.00	0.5 %	326.03	(4.9 %)	265.34	16.8 %
6m 2016	452.61	(1.9 %)	314.71	(12.8 %)	264.77	13.0 %
9m 2016	438.76	(8.0 %)	311.23	(15.3 %)	259.92	8.9 %
12m 2016	442.66	(1.3 %)	315.62	(2.5 %)	253.59	0.3 %
3m 2017	449.00	(0.7 %)	313.65	(3.8 %)	254.20	(4.2 %)
6m 2017	450.49	(0.5 %)	314.69	0.0 %	256.90	(3.0 %)
9m 2017	446.19	1.7 %	302.59	(2.8 %)	256.85	(1.2 %)
12m 2017	444.79	0.5 %	308.94	(2.1 %)	249.23	(1.7 %)
3m 2018	438.90	(2.2 %)	309.00	(1.5 %)	252.78	(0.6 %)
6m 2018	455.73	1.2 %	317.65	0.9 %	266.04	3.6 %
9m 2018	460.83	3.3 %	325.46	7.6 %	268.25	4.4 %
12m 2018	452.18	1.7 %	318.70	3.2 %	265.06	6.4 %
3m 2019	464.91	5.9 %	309.68	0.2 %	267.22	5.7 %
6m 2019	476.59	4.6 %	327.44	3.1 %	274.83	3.3 %
9m 2019	496.59	7.8 %	340.38	4.6 %	279.07	4.0 %
12m 2019	506.82	12.1 %	353.39	10.9 %	281.84	6.3 %
3m 2020	534.56	15.0 %	375.05	21.1 %	304.77	14.1 %
6m 2020	556.86	16.8 %	380.40	16.2 %	315.84	14.9 %
9m 2020	576.63	16.1 %	408.47	20.0 %	336.41	20.5 %
12m 2020	599.44	18.3 %	416.42	17.8 %	346.71	23.0 %
3m 2021	599.57	12.2 %	419.43	11.8 %	356.72	17.0 %
6m 2021	897.36	61.1 %	588.13	54.6 %	501.80	58.9 %
9m 2021	903.85	56.7 %	589.19	44.2 %	502.48	49.4 %
12m 2021	914.15	52.5 %	588.57	41.3 %	497.57	43.5 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2012	345.26	14.6 %	273.53	14.2 %	163.46	20.8 %
2013	377.29	9.3 %	300.60	9.9 %	187.69	14.8 %
2014	434.88	15.3 %	333.10	10.8 %	220.72	17.6 %
2015	448.64	3.2 %	323.87	(2.8 %)	252.94	14.6 %
2016	442.66	(1.3 %)	315.62	(2.5 %)	253.59	0.3 %
2017	444.79	0.5 %	308.94	(2.1 %)	249.23	(1.7 %)
2018	452.18	1.7 %	318.70	3.2 %	265.06	6.4 %
2019	506.82	12.1 %	353.39	10.9 %	281.84	6.3 %
2020	599.44	18.3 %	416.42	17.8 %	346.71	23.0 %
2021	914.15	52.5 %	588.57	41.3 %	497.57	43.5 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2012	79.05 %	45.38 %	57.41 %
Q2 2012	78.11 %	46.90 %	60.04 %
Q3 2012	78.34 %	49.01 %	62.55 %
Q4 2012	79.22 %	47.34 %	59.76 %
Q1 2013	77.28 %	47.66 %	61.67 %
Q2 2013	79.40 %	49.12 %	61.87 %
Q3 2013	80.30 %	50.23 %	62.56 %
Q4 2013	79.67 %	49.75 %	62.44 %
Q1 2014	79.23 %	46.96 %	59.26 %
Q2 2014	79.35 %	47.34 %	59.66 %
Q3 2014	78.54 %	48.76 %	62.08 %
Q4 2014	76.60 %	50.75 %	66.26 %
Q1 2015	76.22 %	50.49 %	66.25 %
Q2 2015	78.23 %	50.78 %	64.90 %
Q3 2015	77.04 %	50.04 %	64.95 %
Q4 2015	72.19 %	56.38 %	78.10 %
Q1 2016	72.13 %	58.70 %	81.39 %
Q2 2016	69.53 %	58.50 %	84.13 %
Q3 2016	70.93 %	59.24 %	83.51 %
Q4 2016	71.30 %	57.29 %	80.35 %
Q1 2017	69.86 %	56.62 %	81.05 %
Q2 2017	69.86 %	57.03 %	81.64 %
Q3 2017	67.82 %	57.57 %	84.88 %
Q4 2017	69.46 %	56.03 %	80.67 %
Q1 2018	70.40 %	57.59 %	81.80 %
Q2 2018	69.70 %	58.38 %	83.75 %
Q3 2018	70.63 %	58.21 %	82.42 %
Q4 2018	70.48 %	58.62 %	83.17 %
Q1 2019	66.61 %	57.48 %	86.29 %
Q2 2019	68.70 %	57.67 %	83.93 %
Q3 2019	68.54 %	56.20 %	81.99 %
Q4 2019	69.73 %	55.61 %	79.75 %
Q1 2020	70.16 %	57.01 %	81.26 %
Q2 2020	68.31 %	56.72 %	83.03 %
Q3 2020	70.84 %	58.34 %	82.36 %
Q4 2020	69.47 %	57.84 %	83.26 %
Q1 2021	69.96 %	59.50 %	85.05 %
Q2 2021	65.54 %	55.92 %	85.32 %
Q3 2021	65.19 %	55.59 %	85.28 %
Q4 2021	64.39 %	54.43 %	84.54 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2012	79.22 %	47.34 %	59.76 %
2013	79.67 %	49.75 %	62.44 %
2014	76.60 %	50.75 %	66.26 %
2015	72.19 %	56.38 %	78.10 %
2016	71.30 %	57.29 %	80.35 %
2017	69.46 %	56.03 %	80.67 %
2018	70.48 %	58.62 %	83.17 %
2019	69.73 %	55.61 %	79.75 %
2020	69.47 %	57.84 %	83.26 %
2021	64.39 %	54.43 %	84.54 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2012	4,019.65	1.61	1.61	-	8.76
Q2 2012	4,019.65	1.65	1.65	-	8.76
Q3 2012	4,019.65	1.64	1.64	-	9.15
Q4 2012	4,019.65	1.61	1.61	-	9.38
Q1 2013	4,019.65	1.70	1.70	-	9.58
Q2 2013	4,019.65	1.79	1.79	-	9.93
Q3 2013	4,019.65	1.86	1.86	-	10.01
Q4 2013	4,019.65	1.95	1.95	-	10.18
Q1 2014	4,019.65	2.00	2.00	-	10.51
Q2 2014	4,019.65	2.11	2.11	-	11.10
Q3 2014	4,019.65	2.15	2.15	-	11.10
Q4 2014	4,019.65	2.15	2.15	-	11.25
Q1 2015	4,019.65	2.17	2.17	-	11.81
Q2 2015	4,019.65	2.16	2.16	-	11.95
Q3 2015	4,019.65	2.19	2.19	-	11.91
Q4 2015	4,019.65	2.26	2.26	-	12.06
Q1 2016	4,019.65	2.27	2.27	-	12.75
Q2 2016	4,019.65	2.29	2.29	-	12.91
Q3 2016	4,019.65	2.28	2.28	-	12.92
Q4 2016	4,019.65	2.32	2.32	-	13.19
Q1 2017	4,019.65	2.34	2.34	-	13.68
Q2 2017	4,019.65	2.33	2.33	-	13.15
Q3 2017	4,019.65	2.37	2.37	-	13.54
Q4 2017	4,019.65	2.44	2.44	-	13.94
Q1 2018	4,019.65	2.41	2.41	-	14.10
Q2 2018	4,019.65	2.35	2.35	-	14.18
Q3 2018	4,019.65	2.35	2.35	-	13.81
Q4 2018	4,019.65	2.38	2.38	-	14.36
Q1 2019	4,019.65	2.43	2.43	-	14.87
Q2 2019	4,019.65	2.56	2.56	-	14.74
Q3 2019	4,019.65	2.67	2.67	-	14.63
Q4 2019	4,019.65	2.84	2.84	-	15.29
Q1 2020	4,019.65	2.85	2.85	-	14.11
Q2 2020	4,019.65	2.70	2.70	-	15.53
Q3 2020	4,019.65	2.85	2.85	-	16.24
Q4 2020	4,019.65	2.85	2.85	3.03	17.22
Q1 2021	5,504.91	2.18	2.18	3.03	17.73
Q2 2021	5,504.91	2.22	2.23	3.03	24.58
Q3 2021	5,504.91	2.37	2.39	3.03	24.65
Q4 2021	5,504.91	2.30	2.33	3.03	25.00

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2012	4,019.65	1.61	1.61	-	9.38
2013	4,019.65	1.95	1.95	-	10.18
2014	4,019.65	2.15	2.15	-	11.25
2015	4,019.65	2.26	2.26	-	12.06
2016	4,019.65	2.32	2.32	-	13.19
2017	4,019.65	2.44	2.44	-	13.94
2018	4,019.65	2.39	2.39	-	14.36
2019	4,019.65	2.84	2.84	-	15.29
2020	4,019.65	2.85	2.85	3.02	17.22
2021	5,504.91	2.30	2.33	3.02	25.00

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	18.97	18.97	3.63
Q1 2015	20.89	20.89	3.84
Q2 2015	21.52	21.52	3.88
Q3 2015	18.33	18.33	3.37
Q4 2015	16.78	16.78	3.15
Q1 2016	13.33	13.33	2.37
Q2 2016	12.99	12.99	2.30
Q3 2016	10.75	10.75	1.90
Q4 2016	13.65	13.65	2.40
Q1 2017	12.54	12.54	2.14
Q2 2017	16.92	16.92	3.00
Q3 2017	16.10	16.10	2.82
Q4 2017	16.77	16.77	2.93
Q1 2018	20.07	20.07	3.43
Q2 2018	23.05	23.05	3.82
Q3 2018	21.38	21.38	3.63
Q4 2018	22.36	22.36	3.71
Q1 2019	25.21	25.21	4.12
Q2 2019	24.20	24.20	4.20
Q3 2019	19.24	19.24	3.51
Q4 2019	19.34	19.34	3.59
Q1 2020	13.56	13.56	2.74
Q2 2020	15.36	15.36	2.67
Q3 2020	14.50	14.50	2.55
Q4 2020	16.97	16.97	2.80
Q1 2021	13.09	13.09	3.34
Q2 2021	14.20	14.15	1.75
Q3 2021	15.14	15.05	1.86
Q4 2021	15.88	15.67	1.92

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	18.97	18.97	3.63
2015	16.78	16.78	3.15
2016	13.65	13.65	2.40
2017	16.77	16.77	2.93
2018	22.33	22.33	3.71
2019	19.34	19.34	3.59
2020	16.97	16.97	2.80
2021	15.90	15.70	1.92

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	International Banking	Capital Market	Global markets and Treasury
Q1 2012	1,370.73	589.23	572.91	244.35	926.63
Q2 2012	1,324.88	486.68	527.86	201.57	839.73
Q3 2012	1,198.40	749.16	434.30	167.08	722.69
Q4 2012	1,197.65	490.57	565.60	155.74	743.17
Q1 2013	1,418.17	775.64	565.85	160.86	1,145.26
Q2 2013	1,276.19	933.13	551.32	167.65	771.59
Q3 2013	1,220.48	805.71	517.35	143.22	736.59
Q4 2013	1,387.79	920.72	503.54	132.59	723.88
Q1 2014	1,394.07	901.15	501.88	174.43	892.75
Q2 2014	1,444.40	926.59	527.50	219.17	1,097.32
Q3 2014	1,455.20	868.24	595.35	171.82	1,023.74
Q4 2014	1,427.35	1,032.33	628.39	188.93	776.42
Q1 2015	1,448.95	1,041.10	566.42	166.74	1,224.33
Q2 2015	1,522.94	1,034.67	528.51	183.19	1,013.61
Q3 2015	1,533.85	1,062.65	545.05	160.03	1,011.26
Q4 2015	1,854.84	1,002.57	546.46	181.42	857.08
Q1 2016	1,970.14	1,040.62	536.42	159.51	1,017.29
Q2 2016	1,985.35	1,054.82	589.90	147.36	882.82
Q3 2016	1,967.03	1,104.46	602.84	114.20	874.28
Q4 2016	1,782.46	1,186.84	501.03	159.65	970.39
Q1 2017	1,938.41	1,235.61	388.22	163.66	1,133.92
Q2 2017	1,924.73	1,042.93	393.30	144.16	973.23
Q3 2017	2,106.64	842.25	405.84	154.12	982.69
Q4 2017	2,171.24	973.67	390.38	173.87	806.38
Q1 2018	2,116.90	873.73	371.26	227.59	1,189.77
Q2 2018	1,976.75	1,075.78	442.12	176.26	989.64
Q3 2018	2,318.57	1,000.84	398.71	154.71	858.77
Q4 2018	2,260.08	1,111.00	314.71	161.60	908.44
Q1 2019	2,240.76	1,157.45	297.15	181.00	1,074.45
Q2 2019	2,385.91	965.58	353.75	216.64	1,128.53
Q3 2019	2,568.71	1,061.34	380.69	163.79	822.01
Q4 2019	2,512.36	1,526.65	429.32	225.36	883.24
Q1 2020	2,319.66	1,112.59	474.94	249.10	1,148.97
Q2 2020	2,363.44	2,914.55	417.10	219.62	(1148.97)
Q3 2020	2,676.13	2,267.98	407.50	285.99	-
Q4 2020	2,829.45	2,238.61	302.94	378.32	-
Q1 2021	2,662.57	2,430.09	276.48	350.17	-
Q2 2021	3,209.70	2,670.09	266.25	1,441.78	-
Q3 2021	3,326.70	4,696.32	476.74	(625.34)	-
Q4 2021	3,267.32	2,705.87	670.36	410.61	-

Period	Retail	Corporate and Institutional Banking	International Banking	Capital Market	Global markets and Treasury
2012	5,091.66	2,315.64	2,100.66	768.74	3,232.21
2013	5,302.63	3,435.21	2,138.05	604.32	3,377.31
2014	5,721.01	3,728.31	2,253.12	754.36	3,790.23
2015	6,360.61	4,141.00	2,186.43	691.38	4,106.28
2016	7,704.97	4,386.73	2,230.19	580.72	3,744.77
2017	8,141.01	4,094.46	1,577.74	635.80	3,896.21
2018	8,672.30	4,061.35	1,526.80	720.17	3,946.61
2019	9,707.74	4,711.02	1,460.90	786.79	3,908.23
2020	10,188.69	8,533.73	1,602.49	1,133.03	-
2021	12,466.29	12,502.37	1,689.83	1,577.23	-

Analysts Estimates (Million)

Item	Q4 2021 (e)	Q4 2021 (a)	Change‬
Average	3,896.87	2,963.56	(24.0 %)

Estimates vs Actual (Million)

Item	Q4 2021 (e)	Q4 2021 (a)	Change
Riyad Capital	3,620.00	2,963.56	(18.1) %
U-Capital	3,815.20	2,963.56	(22.3) %
Hermes	3,827.00	2,963.56	(22.6) %
FAB Securities	3,895.00	2,963.56	(23.9) %
Sico	3,906.00	2,963.56	(24.1) %
Arqaam Capital	4,318.00	2,963.56	(31.4) %

Financial Ratios

	Current
Market Cap (M Riyal)	198,600.00
Shares Outstanding ((M))	6,000.00
EPS ( Riyal) (TTM)	3.43
EPS Diluted ( Riyal) (TTM)	3.34
Book Value (BV) ( Riyal)	27.98
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	9.64
P/E (TTM)	9.64
Price/book	1.18
Return on Average Assets (%) (TTM)	1.9
Return on Average Equity (%) (TTM)	12.8

The Saudi National Bank (SNB)

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Saudi National Bank 2021 net profit jumps 11% to SAR 12.7 bln; Q4 profit at SAR 3.4 bln

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

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Profit Performance (Million)

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Per Share Data (Riyal)

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Saudi National Bank 2021 net profit jumps 11% to SAR 12.7 bln; Q4 profit at SAR 3.4 bln

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Financials (M)

Current Quarter Comparison (M)

Balance Sheet (B)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

Ratios

Ratios

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

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Business Segments (Million) Q4 2021

Revenue by Business Segment (Latest) 2021 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

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The Saudi National Bank (SNB)

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Business Segments (Million)