SNB’s profit up 10% to SAR 10.03 bln in H1 2023; Q2 at SAR 5.01 bln

25/07/2023 Argaam Exclusive

View other reports

Saudi National Bank (SNB) reported a 10% increase in H1 2023 net profit to SAR 10.03 billion from SAR 9.09 billion in the year-ago period.

Basic earnings per share (EPS) and diluted EPS for the current and the previous years stood at SAR 1.62 per share and SAR 1.49 per share, respectively. It is calculated by dividing the net income attributable to the bank's common equity holders (adjusted for Tier 1 Sukuk cost) for the periods by the weighted average number of outstanding shares amounting to 5.95 billion ( 5.94 billion in 2022).

Financials (M)

Item	6m 2022	6m 2023	Change‬
Net Special Commission Income	12,932.36	13,302.48	2.9 %
Operating Income	16,438.07	17,227.96	4.8 %
Total Provisions	(978.44)	(556.94)	43.1 %
Net Income	9,090.70	10,037.10	10.4 %
Average Shares	6,000.00	6,000.00	-
EPS (Riyals)	1.52	1.67	10.4 %
EPS Diluted (Riyals)	1.49	1.62	8.7 %

The bank reported a 10.4% growth year-on-year (YoY) in net income attributable to equity holders, driven by higher operating income and lower operating expenses, including net impairment charge for expected credit losses.

Gross operating income increased by 4.8% YoY, mainly from higher net special commission income, fees from banking services, foreign exchange income and investment income despite partially offset by higher other operating expenses.

Gross operating expenses, including net impairment charge for expected credit losses, were lower by 5.9% YoY amid lower net impairment charge for expected credit losses.

Credit losses provision fell 42% YoY to SAR 569 million from SAR 978 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Net Special Commission Income	6,823.91	6,521.82	(4.4 %)
Operating Income	8,345.18	8,494.37	1.8 %
Debt Provisions	(592.20)	(66.10)	88.8 %
Net Income	4,589.12	5,015.56	9.3 %
Average Shares	6,000.00	6,000.00	-
EPS (Riyals)	0.76	0.84	9.3 %
EPS Diluted (Riyal)	0.76	0.81	7.3 %

Item	Q1 2023	Q2 2023	Change‬
Net Special Commission Income	6,780.66	6,521.82	(3.8 %)
Operating Income	8,733.59	8,494.37	(2.7 %)
Debt Provisions	(490.84)	(66.10)	86.5 %
Net Income	5,021.54	5,015.56	(0.1 %)
Average Shares	6,000.00	6,000.00	-
EPS (Riyals)	0.84	0.84	(0.1 %)
EPS Diluted (Riyal)	0.81	0.81	1.0 %

The second-quarter net profit rose 9.3% to SAR 5.01 billion from SAR 4.58 billion in Q2 2022. However, the earnings fell slightly from SAR 5.02 billion in Q1 2023.

Balance Sheet (B)

Item	6m 2022	6m 2023	Change‬
Assets	958.47	996.20	3.9 %
Customer Deposits	593.01	602.21	1.6 %
Loan	536.19	577.85	7.8 %

Total shareholders’ equity, including Sukuk, stood at SAR 170.17 billion as of June 30, 2023, from SAR 160.98 billion a year earlier.

View more financial results

Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
Q1 2022	6,108.44	46.2 %	8,092.89	41.5 %	(386.25)	(34.9 %)
Q2 2022	6,823.91	15.9 %	8,345.18	10.0 %	(592.20)	75.5 %
Q3 2022	6,577.80	6.0 %	8,447.82	7.3 %	(540.55)	26.2 %
Q4 2022	6,777.04	14.2 %	8,118.66	15.1 %	(166.50)	68.5 %
2022	26,287.20	18.4 %	33,004.55	16.9 %	(1,685.48)	58.1 %
Q1 2023	6,780.66	11.0 %	8,733.59	7.9 %	(490.84)	(27.1 %)
Q2 2023	6,521.82	(4.4 %)	8,494.37	1.8 %	(66.10)	88.8 %

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
2022	26,287.20	18.4 %	33,004.55	16.9 %	(1,685.48)	58.1 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q1 2022	4,501.58	32.1 %	0.75	-	4,501.58	0.75
Q2 2022	4,589.12	98.2 %	0.76	-	4,589.12	0.76
Q3 2022	4,724.56	18.7 %	0.79	-	4,724.56	0.79
Q4 2022	4,765.43	60.8 %	0.79	-	4,765.43	0.79
2022	18,580.69	46.7 %	3.10	-	18,580.69	3.10
Q1 2023	5,021.54	11.6 %	0.84	-	5,021.54	0.84
Q2 2023	5,015.56	9.3 %	0.84	-	5,015.56	0.84

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
2022	18,580.69	46.7 %	3.10	-	18,580.69	3.10

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
Q1 2022	1.81 %	12.31 %	78.86 %
Q2 2022	1.73 %	10.82 %	79.94 %
Q3 2022	1.80 %	11.38 %	79.67 %
Q4 2022	2.00 %	12.37 %	79.65 %
2022	2.00 %	12.37 %	79.65 %
Q1 2023	2.01 %	12.48 %	80.13 %
Q2 2023	2.00 %	12.86 %	78.88 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
2022	2.00 %	12.37 %	79.65 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
Q1 2022	921.56	53.7 %	606.72	44.7 %	514.63	44.3 %
Q2 2022	958.47	6.8 %	593.01	0.8 %	536.19	6.9 %
Q3 2022	964.42	6.7 %	596.89	1.3 %	536.18	6.7 %
Q4 2022	945.50	3.4 %	568.28	(3.4 %)	545.31	9.6 %
Q1 2023	976.06	5.9 %	610.79	0.7 %	566.34	10.0 %
Q2 2023	996.20	3.9 %	602.21	1.6 %	577.85	7.8 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
3m 2022	921.56	53.7 %	606.72	44.7 %	514.63	44.3 %
6m 2022	958.47	6.8 %	593.01	0.8 %	536.19	6.9 %
9m 2022	964.42	6.7 %	596.89	1.3 %	536.18	6.7 %
12m 2022	945.50	3.4 %	568.28	(3.4 %)	545.31	9.6 %
3m 2023	976.06	5.9 %	610.79	0.7 %	566.34	10.0 %
6m 2023	996.20	3.9 %	602.21	1.6 %	577.85	7.8 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
2022	945.50	3.4 %	568.28	(3.4 %)	545.31	9.6 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
Q1 2022	65.84 %	55.84 %	84.82 %
Q2 2022	61.87 %	55.94 %	90.42 %
Q3 2022	61.89 %	55.60 %	89.83 %
Q4 2022	60.10 %	57.67 %	95.96 %
Q1 2023	62.58 %	58.02 %	92.72 %
Q2 2023	60.45 %	58.01 %	95.95 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
2022	60.10 %	57.67 %	95.96 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
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
Q1 2022	6,000.00	2.29	2.32	3.03	25.40
Q2 2022	6,000.00	2.67	2.69	3.03	24.80
Q3 2022	6,000.00	2.80	2.81	3.03	24.49
Q4 2022	6,000.00	3.10	3.10	3.03	25.08
Q1 2023	6,000.00	3.18	3.18	3.10	25.61
Q2 2023	6,000.00	3.25	3.25	3.16	25.83

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
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
2022	6,000.00	3.10	3.10	3.02	25.08

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2022	17.48	17.27	2.08
Q2 2022	16.24	16.12	1.98
Q3 2022	15.55	15.47	1.92
Q4 2022	12.45	12.45	1.50
Q1 2023	11.03	11.03	1.34
Q2 2023	11.65	11.65	1.42

Period	P/E	Adjusted P/E	Price/book
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
2022	12.47	12.47	1.50

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	International Banking	Capital Market	Global markets and Treasury
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	-
Q1 2022	3,664.72	3,265.04	666.34	496.80	-
Q2 2022	3,552.39	3,550.45	702.87	539.48	-
Q3 2022	3,739.41	3,747.26	633.98	327.18	-
Q4 2022	3,655.43	3,385.15	571.89	506.20	-
Q1 2023	3,868.23	3,672.73	774.59	418.04	-
Q2 2023	4,145.73	2,983.28	906.18	459.18	-

Period	Retail	Corporate and Institutional Banking	International Banking	Capital Market	Global markets and Treasury
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	-
2022	14,611.94	13,947.89	2,575.07	1,869.65	-

Analysts Estimates (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change‬
Average	4,966.29	5,015.56	0.99 %

Estimates vs Actual (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change
FAB Securities	5,026.00	5,015.56	(0.2) %
Riyad Capital	4,992.00	5,015.56	0.5 %
Hermes	4,988.00	5,015.56	0.6 %
Arqaam Capital	4,955.00	5,015.56	1.2 %
HSBC	4,826.00	5,015.56	3.9 %
U-Capital	4,813.50	5,015.56	4.2 %
Bank of America	4,747.04	5,015.56	5.7 %
Goldman Sachs	4,740.00	5,015.56	5.8 %
OSOOL AND BAKHEET	5,609.10	5,015.56	(10.6) %

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)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

SNB’s profit up 10% to SAR 10.03 bln in H1 2023; Q2 at SAR 5.01 bln

View other reports

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)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

The Saudi National Bank (SNB)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

×

SNB’s profit up 10% to SAR 10.03 bln in H1 2023; Q2 at SAR 5.01 bln

View other reports

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)

Ratios And Multiples

Business Segments (Million) Q2 2023

Revenue by Business Segment (Latest) 2023 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

The Saudi National Bank (SNB)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)