SAB 9M 2023 profit up 43% to SAR 5.14 bln; Q3 at SAR 1.83 bln

25/10/2023 Argaam Exclusive

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Saudi Awwal Bank (SAB) reported a 43% rise in net profit to SAR 5.14 bln for the first nine months of 2023, compared to SAR 3.59 bln in the prior-year period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Net Special Commission Income	5,116.75	7,639.93	49.3 %
Operating Income	6,761.04	9,531.59	41.0 %
Total Provisions	(233.19)	(511.87)	(119.5 %)
Net Income	3,593.43	5,144.75	43.2 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	1.75	2.50	43.2 %
EPS Diluted (Riyals)	1.75	2.50	42.9 %

The bank reported a year-on-year (YoY) increase in gross operating income during the nine-month period. This was mainly due to higher net special commission income, net fee and commission income, foreign exchange (forex) trading income and income from fair value through statement of income (FVSI) financial instruments.

This was offset by a YoY jump in gross operating expenses as a result of a rise in employee salaries and expenses, depreciation and amortization expenses, general and administrative expenses, and rent and building expenses.

This was in addition to a higher provision for Zakat and income tax as well as that for expected credit losses during the first nine months of this year.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Net Special Commission Income	1,984.84	2,578.56	29.9 %
Operating Income	2,506.57	3,247.28	29.6 %
Debt Provisions	(37.51)	(144.38)	(284.9 %)
Net Income	1,504.54	1,830.33	21.7 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.73	0.89	21.7 %
EPS Diluted (Riyal)	0.73	0.89	20.7 %

Item	Q2 2023	Q3 2023	Change‬
Net Special Commission Income	2,527.34	2,578.56	2.0 %
Operating Income	3,066.74	3,247.28	5.9 %
Debt Provisions	(138.52)	(144.38)	(4.2 %)
Net Income	1,549.85	1,830.33	18.1 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.75	0.89	18.1 %
EPS Diluted (Riyal)	0.75	0.89	17.6 %

The third-quarter net profit grew 21.5% to SAR 1.83 billion from SAR 1.50 billion in Q3 2022, on higher gross operating income and lower income from FVSI financial instruments.

Sequentially, the Q3 bottom line grew by 18.1% from SAR 1.54 billion as the provision for Zakat and income tax contracted on a quarterly basis.

Balance Sheet (B)

Item	9m 2022	9m 2023	Change‬
Assets	300.10	340.48	13.5 %
Customer Deposits	202.86	228.05	12.4 %
Loan	183.16	211.40	15.4 %

Shareholders’ equity, with no minority interest, stood at SAR 55.53 billion by the end of Sept. 30, 2023, compared to SAR 53.34 billion in the year-earlier period.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
Q1 2014	960.58	8.5 %	1,620.94	12.8 %	(117.59)	(12.4 %)
Q2 2014	1,008.65	7.4 %	1,663.75	10.8 %	(81.37)	23.1 %
Q3 2014	1,029.46	8.4 %	1,654.60	12.3 %	(157.78)	26.5 %
Q4 2014	1,063.92	12.6 %	1,562.92	11.6 %	(93.07)	(282.4 %)
2014	4,062.61	9.2 %	6,502.21	11.8 %	(449.81)	(20.2 %)
Q1 2015	1,031.46	7.4 %	1,717.18	5.9 %	(115.59)	1.7 %
Q2 2015	1,067.05	5.8 %	1,674.98	0.7 %	(113.05)	(38.9 %)
Q3 2015	1,079.01	4.8 %	1,689.26	2.1 %	(88.00)	44.2 %
Q4 2015	1,076.35	1.2 %	1,549.21	(0.9 %)	(113.08)	(21.5 %)
2015	4,253.88	4.7 %	6,630.63	2.0 %	(429.72)	4.5 %
Q1 2016	1,116.67	8.3 %	1,795.56	4.6 %	(144.97)	(25.4 %)
Q2 2016	1,181.84	10.8 %	1,761.11	5.1 %	(103.29)	8.6 %
Q3 2016	1,222.36	13.3 %	1,687.30	(0.1 %)	(189.53)	(115.4 %)
Q4 2016	1,236.05	14.8 %	1,664.64	7.5 %	(506.78)	(348.2 %)
2016	4,756.92	11.8 %	6,908.60	4.2 %	(944.56)	(119.8 %)
Q1 2017	1,250.65	12.0 %	1,824.07	1.6 %	(226.29)	(56.1 %)
Q2 2017	1,284.32	8.7 %	1,800.61	2.2 %	(164.90)	(59.7 %)
Q3 2017	1,258.28	2.9 %	1,763.89	4.5 %	(168.78)	10.9 %
Q4 2017	1,304.64	5.5 %	1,738.34	4.4 %	(441.85)	12.8 %
2017	5,097.88	7.2 %	7,126.91	3.2 %	(1,001.83)	(6.1 %)
Q1 2018	1,322.55	5.7 %	1,761.65	(3.4 %)	(207.25)	8.4 %
Q2 2018	1,390.51	8.3 %	1,868.53	3.8 %	90.82	155.1 %
Q3 2018	1,413.74	12.4 %	1,861.35	5.5 %	(87.02)	48.4 %
Q4 2018	1,450.53	11.2 %	1,831.32	5.3 %	(55.58)	87.4 %
2018	5,577.33	9.4 %	7,322.84	2.7 %	(259.03)	74.1 %
Q1 2019	1,486.94	12.4 %	1,970.01	11.8 %	(90.78)	56.2 %
Q2 2019	1,609.90	15.8 %	2,010.61	7.6 %	(1,591.65)	(1852.6 %)
Q3 2019	2,084.30	47.4 %	2,669.65	43.4 %	(182.05)	(109.2 %)
Q4 2019	1,998.49	37.8 %	2,563.05	40.0 %	(636.70)	(1,045.6 %)
2019	7,179.63	28.7 %	9,213.32	25.8 %	(2,501.18)	(865.6 %)
Q1 2020	1,902.58	28.0 %	2,368.89	20.2 %	(239.07)	(163.4 %)
Q2 2020	1,815.14	12.7 %	2,318.10	15.3 %	(1,308.78)	17.8 %
Q3 2020	1,657.57	(20.5 %)	2,141.36	(19.8 %)	(51.10)	71.9 %
Q4 2020	1,497.43	(25.1 %)	2,049.61	(20.0 %)	(31.98)	95.0 %
2020	6,872.71	(4.3 %)	8,877.97	(3.6 %)	(1,630.93)	34.8 %
Q1 2021	1,426.82	(25.0 %)	2,021.53	(14.7 %)	(1.67)	99.3 %
Q2 2021	1,467.28	(19.2 %)	1,946.78	(16.0 %)	(25.58)	98.0 %
Q3 2021	1,406.69	(15.1 %)	1,935.43	(9.6 %)	(13.00)	74.6 %
Q4 2021	1,416.44	(5.4 %)	1,805.51	(11.9 %)	(413.50)	(1,192.8 %)
2021	5,717.22	(16.8 %)	7,678.36	(13.5 %)	(453.74)	72.2 %
Q1 2022	1,413.65	(0.9 %)	2,012.53	(0.4 %)	(59.78)	(3,484.1 %)
Q2 2022	1,718.26	17.1 %	2,241.94	15.2 %	(135.90)	(431.3 %)
Q3 2022	1,984.84	41.1 %	2,506.57	29.5 %	(37.51)	(188.7 %)
Q4 2022	2,291.54	61.8 %	2,780.59	54.0 %	(212.07)	48.7 %
2022	7,408.29	29.6 %	9,541.63	24.3 %	(445.26)	1.9 %
Q1 2023	2,534.04	79.3 %	3,217.57	59.9 %	(228.96)	(283.0 %)
Q2 2023	2,527.34	47.1 %	3,066.74	36.8 %	(138.52)	(1.9 %)
Q3 2023	2,578.56	29.9 %	3,247.28	29.6 %	(144.38)	(284.9 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2013	3,719.30	13.9 %	5,813.67	12.5 %	(374.18)	14.8 %
2014	4,062.61	9.2 %	6,502.21	11.8 %	(449.81)	(20.2 %)
2015	4,253.88	4.7 %	6,630.63	2.0 %	(429.72)	4.5 %
2016	4,756.92	11.8 %	6,908.60	4.2 %	(944.56)	(119.8 %)
2017	5,097.88	7.2 %	7,126.91	3.2 %	(1,001.83)	(6.1 %)
2018	5,577.33	9.4 %	7,322.84	2.7 %	(259.03)	74.1 %
2019	7,179.63	28.7 %	9,213.32	25.8 %	(2,501.18)	(865.6 %)
2020	6,872.71	(4.3 %)	8,877.97	(3.6 %)	(1,630.93)	34.8 %
2021	5,717.22	(16.8 %)	7,678.36	(13.5 %)	(453.74)	72.2 %
2022	7,408.29	29.6 %	9,541.63	24.3 %	(445.26)	1.9 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	1,080.53	14.0 %	0.72	-	1,080.53	0.72
Q2 2014	1,157.23	15.2 %	0.77	-	1,157.23	0.77
Q3 2014	1,058.96	25.2 %	0.71	-	1,058.96	0.71
Q4 2014	969.35	(0.6 %)	0.65	-	969.35	0.65
2014	4,266.06	13.0 %	2.84	-	4,266.06	2.84
Q1 2015	1,115.19	3.2 %	0.74	-	1,115.19	0.74
Q2 2015	1,137.26	(1.7 %)	0.76	-	1,137.26	0.76
Q3 2015	1,139.56	7.6 %	0.76	-	1,139.56	0.76
Q4 2015	938.54	(3.2 %)	0.63	-	938.54	0.63
2015	4,330.55	1.5 %	2.89	-	4,330.55	2.89
Q1 2016	1,141.68	2.4 %	0.76	-	1,141.68	0.76
Q2 2016	1,151.65	1.3 %	0.77	-	1,151.65	0.77
Q3 2016	994.82	(12.7 %)	0.66	-	994.82	0.66
Q4 2016	606.58	(35.4 %)	0.40	-	606.58	0.40
2016	3,894.73	(10.1 %)	2.60	-	3,894.73	2.60
Q1 2017	1,035.98	(9.3 %)	0.69	-	1,035.98	0.69
Q2 2017	1,129.16	(2.0 %)	0.75	-	1,129.16	0.75
Q3 2017	1,083.32	8.9 %	0.72	-	1,083.32	0.72
Q4 2017	706.11	16.4 %	0.47	-	706.11	0.47
2017	3,954.58	1.5 %	2.64	-	3,954.58	2.64
Q1 2018	975.40	(5.8 %)	0.65	-	975.40	0.65
Q2 2018	832.59	(26.3 %)	0.56	-	832.59	0.56
Q3 2018	1,061.37	(2.0 %)	0.71	-	1,061.37	0.71
Q4 2018	(153.92)	(121.8 %)	(0.10)	(1053.40)	899.48	0.60
2018	2,715.44	(31.3 %)	1.81	(1053.40)	3,768.84	2.51
Q1 2019	1,108.55	13.7 %	0.58	(58.00)	1,166.55	0.61
Q2 2019	(188.13)	(122.6 %)	(0.10)	(75.00)	(113.13)	(0.06)
Q3 2019	1,177.99	11.0 %	0.61	(137.00)	1,314.99	0.69
Q4 2019	660.10	528.9 %	0.34	(147.00)	807.10	0.42
2019	2,754.26	1.4 %	1.44	(417.00)	3,171.26	1.66
Q1 2020	975.59	(12.0 %)	0.47	(95.00)	1,070.59	0.52
Q2 2020	(6862.85)	(3,547.9 %)	(3.34)	(7509.78)	646.93	0.31
Q3 2020	1,049.99	(10.9 %)	0.51	(114.00)	1,163.99	0.57
Q4 2020	681.88	3.3 %	0.33	(199.00)	880.88	0.43
2020	(4155.39)	(250.9 %)	(2.02)	(7917.78)	3,762.38	1.83
Q1 2021	973.71	(0.2 %)	0.47	-	973.71	0.47
Q2 2021	918.50	113.4 %	0.45	-	918.50	0.45
Q3 2021	885.30	(15.7 %)	0.43	-	885.30	0.43
Q4 2021	426.92	(37.4 %)	0.21	-	426.92	0.21
2021	3,204.43	177.1 %	1.56	-	3,204.43	1.56
Q1 2022	1,006.22	3.3 %	0.49	-	1,006.22	0.49
Q2 2022	1,082.67	17.9 %	0.53	-	1,082.67	0.53
Q3 2022	1,504.54	69.9 %	0.73	108.60	1,395.94	0.68
Q4 2022	1,234.18	189.1 %	0.60	(6.56)	1,240.74	0.60
2022	4,827.61	50.7 %	2.35	102.04	4,725.57	2.30
Q1 2023	1,764.57	75.4 %	0.86	-	1,764.57	0.86
Q2 2023	1,549.85	43.2 %	0.75	-	1,549.85	0.75
Q3 2023	1,830.33	21.7 %	0.89	-	1,830.33	0.89

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	3,773.81	16.5 %	2.52	-	3,773.81	2.52
2014	4,266.06	13.0 %	2.84	-	4,266.06	2.84
2015	4,330.55	1.5 %	2.89	-	4,330.55	2.89
2016	3,894.73	(10.1 %)	2.60	-	3,894.73	2.60
2017	3,954.58	1.5 %	2.64	-	3,954.58	2.64
2018	2,715.44	(31.3 %)	1.81	(1053.40)	3,768.84	2.51
2019	2,754.26	1.4 %	1.44	(417.00)	3,171.26	1.66
2020	(4155.39)	(250.9 %)	(2.02)	(7917.78)	3,762.38	1.83
2021	3,204.43	177.1 %	1.56	-	3,204.43	1.56
2022	4,827.61	50.7 %	2.35	102.04	4,725.57	2.30

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2014	2.34 %	18.15 %	63.28 %
Q2 2014	2.41 %	17.99 %	62.74 %
Q3 2014	2.45 %	18.06 %	62.21 %
Q4 2014	2.34 %	17.45 %	62.48 %
2014	2.34 %	17.45 %	62.48 %
Q1 2015	2.35 %	17.51 %	62.64 %
Q2 2015	2.33 %	16.66 %	63.42 %
Q3 2015	2.29 %	16.52 %	63.84 %
Q4 2015	2.31 %	15.97 %	64.15 %
2015	2.31 %	15.97 %	64.15 %
Q1 2016	2.28 %	15.92 %	64.68 %
Q2 2016	2.28 %	15.32 %	65.54 %
Q3 2016	2.21 %	14.69 %	67.67 %
Q4 2016	2.08 %	13.10 %	68.85 %
2016	2.08 %	13.10 %	68.85 %
Q1 2017	2.01 %	12.51 %	70.50 %
Q2 2017	2.01 %	12.04 %	71.57 %
Q3 2017	2.11 %	12.26 %	71.31 %
Q4 2017	2.12 %	12.24 %	71.53 %
2017	2.12 %	12.24 %	71.53 %
Q1 2018	2.12 %	12.22 %	73.18 %
Q2 2018	1.97 %	10.95 %	73.97 %
Q3 2018	2.02 %	10.90 %	75.13 %
Q4 2018	1.50 %	8.25 %	76.16 %
2018	1.50 %	8.25 %	76.16 %
Q1 2019	1.60 %	8.66 %	76.24 %
Q2 2019	0.81 %	4.14 %	77.69 %
Q3 2019	0.90 %	4.43 %	78.19 %
Q4 2019	1.25 %	6.24 %	77.93 %
2019	1.25 %	6.23 %	77.93 %
Q1 2020	1.19 %	5.86 %	79.02 %
Q2 2020	(1.51 %)	(7.82 %)	78.64 %
Q3 2020	(1.60 %)	(7.98 %)	78.52 %
Q4 2020	(1.53 %)	(7.79 %)	77.41 %
2020	(1.53 %)	(7.79 %)	77.41 %
Q1 2021	(1.55 %)	(7.74 %)	74.99 %
Q2 2021	1.34 %	7.18 %	74.14 %
Q3 2021	1.30 %	6.77 %	72.90 %
Q4 2021	1.17 %	6.19 %	74.16 %
2021	1.17 %	6.19 %	74.46 %
Q1 2022	1.17 %	6.13 %	74.08 %
Q2 2022	1.18 %	6.38 %	74.48 %
Q3 2022	1.41 %	7.59 %	76.26 %
Q4 2022	1.65 %	8.98 %	77.64 %
2022	1.65 %	8.98 %	77.64 %
Q1 2023	1.83 %	10.09 %	79.36 %
Q2 2023	1.90 %	10.96 %	80.70 %
Q3 2023	1.99 %	11.71 %	80.66 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2013	2.26 %	17.59 %	63.98 %
2014	2.34 %	17.45 %	62.48 %
2015	2.31 %	15.97 %	64.15 %
2016	2.08 %	13.10 %	68.85 %
2017	2.12 %	12.24 %	71.53 %
2018	1.50 %	8.25 %	76.16 %
2019	1.25 %	6.23 %	77.93 %
2020	(1.53 %)	(7.79 %)	77.41 %
2021	1.17 %	6.19 %	74.46 %
2022	1.65 %	8.98 %	77.64 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2014	175.42	10.5 %	136.98	12.2 %	109.90	8.6 %
Q2 2014	175.47	8.4 %	138.30	9.9 %	112.71	6.3 %
Q3 2014	182.96	10.0 %	143.69	10.6 %	116.67	8.2 %
Q4 2014	187.61	5.8 %	145.87	5.0 %	115.22	8.6 %
Q1 2015	190.16	8.4 %	149.00	8.8 %	120.43	9.6 %
Q2 2015	192.33	9.6 %	151.10	9.3 %	126.96	12.6 %
Q3 2015	197.20	7.8 %	155.85	8.5 %	129.57	11.1 %
Q4 2015	187.75	0.1 %	148.89	2.1 %	125.95	9.3 %
Q1 2016	191.79	0.9 %	151.88	1.9 %	130.56	8.4 %
Q2 2016	191.87	(0.2 %)	150.27	(0.6 %)	131.10	3.3 %
Q3 2016	185.90	(5.7 %)	144.08	(7.5 %)	125.87	(2.9 %)
Q4 2016	186.06	(0.9 %)	140.64	(5.5 %)	120.96	(4.0 %)
Q1 2017	185.26	(3.4 %)	141.57	(6.8 %)	119.49	(8.5 %)
Q2 2017	182.52	(4.9 %)	138.31	(8.0 %)	117.88	(10.1 %)
Q3 2017	179.48	(3.5 %)	134.57	(6.6 %)	116.69	(7.3 %)
Q4 2017	187.62	0.8 %	140.24	(0.3 %)	117.01	(3.3 %)
Q1 2018	182.62	(1.4 %)	135.39	(4.4 %)	116.49	(2.5 %)
Q2 2018	183.13	0.3 %	132.93	(3.9 %)	113.36	(3.8 %)
Q3 2018	175.05	(2.5 %)	129.33	(3.9 %)	112.13	(3.9 %)
Q4 2018	174.68	(6.9 %)	130.51	(6.9 %)	110.33	(5.7 %)
Q1 2019	173.78	(4.8 %)	127.24	(6.0 %)	110.36	(5.3 %)
Q2 2019	270.82	47.9 %	196.16	47.6 %	154.96	36.7 %
Q3 2019	258.49	47.7 %	183.41	41.8 %	149.34	33.2 %
Q4 2019	265.99	52.3 %	192.17	47.2 %	152.08	37.8 %
Q1 2020	265.69	52.9 %	188.28	48.0 %	155.18	40.6 %
Q2 2020	266.99	(1.4 %)	188.36	(4.0 %)	152.95	(1.3 %)
Q3 2020	263.96	2.1 %	180.20	(1.8 %)	151.89	1.7 %
Q4 2020	276.45	3.9 %	189.11	(1.6 %)	153.24	0.8 %
Q1 2021	271.56	2.2 %	183.69	(2.4 %)	156.71	1.0 %
Q2 2021	272.94	2.2 %	186.83	(0.8 %)	161.44	5.6 %
Q3 2021	269.55	2.1 %	180.25	0.0 %	163.50	7.6 %
Q4 2021	272.40	(1.5 %)	186.76	(1.2 %)	167.56	9.3 %
Q1 2022	282.69	4.1 %	193.89	5.6 %	176.15	12.4 %
Q2 2022	302.54	10.8 %	207.45	11.0 %	176.21	9.1 %
Q3 2022	300.10	11.3 %	202.86	12.5 %	183.16	12.0 %
Q4 2022	314.40	15.4 %	214.28	14.7 %	183.13	9.3 %
Q1 2023	328.88	16.3 %	225.98	16.6 %	191.00	8.4 %
Q2 2023	334.91	10.7 %	222.73	7.4 %	198.67	12.7 %
Q3 2023	340.48	13.5 %	228.05	12.4 %	211.40	15.4 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2014	175.42	10.5 %	136.98	12.2 %	109.90	8.6 %
6m 2014	175.47	8.4 %	138.30	9.9 %	112.71	6.3 %
9m 2014	182.96	10.0 %	143.69	10.6 %	116.67	8.2 %
12m 2014	187.61	5.8 %	145.87	5.0 %	115.22	8.6 %
3m 2015	190.16	8.4 %	149.00	8.8 %	120.43	9.6 %
6m 2015	192.33	9.6 %	151.10	9.3 %	126.96	12.6 %
9m 2015	197.20	7.8 %	155.85	8.5 %	129.57	11.1 %
12m 2015	187.75	0.1 %	148.89	2.1 %	125.95	9.3 %
3m 2016	191.79	0.9 %	151.88	1.9 %	130.56	8.4 %
6m 2016	191.87	(0.2 %)	150.27	(0.6 %)	131.10	3.3 %
9m 2016	185.90	(5.7 %)	144.08	(7.5 %)	125.87	(2.9 %)
12m 2016	186.06	(0.9 %)	140.64	(5.5 %)	120.96	(4.0 %)
3m 2017	185.26	(3.4 %)	141.57	(6.8 %)	119.49	(8.5 %)
6m 2017	182.52	(4.9 %)	138.31	(8.0 %)	117.88	(10.1 %)
9m 2017	179.48	(3.5 %)	134.57	(6.6 %)	116.69	(7.3 %)
12m 2017	187.62	0.8 %	140.24	(0.3 %)	117.01	(3.3 %)
3m 2018	182.62	(1.4 %)	135.39	(4.4 %)	116.49	(2.5 %)
6m 2018	183.13	0.3 %	132.93	(3.9 %)	113.36	(3.8 %)
9m 2018	175.05	(2.5 %)	129.33	(3.9 %)	112.13	(3.9 %)
12m 2018	174.68	(6.9 %)	130.51	(6.9 %)	110.33	(5.7 %)
3m 2019	173.78	(4.8 %)	127.24	(6.0 %)	110.36	(5.3 %)
6m 2019	270.82	47.9 %	196.16	47.6 %	154.96	36.7 %
9m 2019	258.49	47.7 %	183.41	41.8 %	149.34	33.2 %
12m 2019	265.99	52.3 %	192.17	47.2 %	152.08	37.8 %
3m 2020	265.69	52.9 %	188.28	48.0 %	155.18	40.6 %
6m 2020	266.99	(1.4 %)	188.36	(4.0 %)	152.95	(1.3 %)
9m 2020	263.96	2.1 %	180.20	(1.8 %)	151.89	1.7 %
12m 2020	276.45	3.9 %	189.11	(1.6 %)	153.24	0.8 %
3m 2021	271.56	2.2 %	183.69	(2.4 %)	156.71	1.0 %
6m 2021	272.94	2.2 %	186.83	(0.8 %)	161.44	5.6 %
9m 2021	269.55	2.1 %	180.25	0.0 %	163.50	7.6 %
12m 2021	272.40	(1.5 %)	186.76	(1.2 %)	167.56	9.3 %
3m 2022	282.69	4.1 %	193.89	5.6 %	176.15	12.4 %
6m 2022	302.54	10.8 %	207.45	11.0 %	176.21	9.1 %
9m 2022	300.10	11.3 %	202.86	12.5 %	183.16	12.0 %
12m 2022	314.40	15.4 %	214.28	14.7 %	183.13	9.3 %
3m 2023	328.88	16.3 %	225.98	16.6 %	191.00	8.4 %
6m 2023	334.91	10.7 %	222.73	7.4 %	198.67	12.7 %
9m 2023	340.48	13.5 %	228.05	12.4 %	211.40	15.4 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2013	177.30	13.2 %	138.96	15.4 %	106.11	10.4 %
2014	187.61	5.8 %	145.87	5.0 %	115.22	8.6 %
2015	187.75	0.1 %	148.89	2.1 %	125.95	9.3 %
2016	186.06	(0.9 %)	140.64	(5.5 %)	120.96	(4.0 %)
2017	187.62	0.8 %	140.24	(0.3 %)	117.01	(3.3 %)
2018	174.68	(6.9 %)	130.51	(6.9 %)	110.33	(5.7 %)
2019	265.99	52.3 %	192.17	47.2 %	152.08	37.8 %
2020	276.45	3.9 %	189.11	(1.6 %)	153.24	0.8 %
2021	272.40	(1.5 %)	186.76	(1.2 %)	167.56	9.3 %
2022	314.40	15.4 %	214.28	14.7 %	183.13	9.3 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2014	78.09 %	62.65 %	80.23 %
Q2 2014	78.82 %	64.23 %	81.50 %
Q3 2014	78.54 %	63.77 %	81.20 %
Q4 2014	77.75 %	61.42 %	78.99 %
Q1 2015	78.36 %	63.33 %	80.83 %
Q2 2015	78.57 %	66.01 %	84.02 %
Q3 2015	79.03 %	65.71 %	83.14 %
Q4 2015	79.30 %	67.08 %	84.59 %
Q1 2016	79.19 %	68.07 %	85.97 %
Q2 2016	78.32 %	68.33 %	87.24 %
Q3 2016	77.50 %	67.71 %	87.36 %
Q4 2016	75.59 %	65.02 %	86.01 %
Q1 2017	76.42 %	64.50 %	84.40 %
Q2 2017	75.78 %	64.59 %	85.23 %
Q3 2017	74.97 %	65.01 %	86.71 %
Q4 2017	74.75 %	62.36 %	83.43 %
Q1 2018	74.14 %	63.79 %	86.04 %
Q2 2018	72.59 %	61.90 %	85.28 %
Q3 2018	73.88 %	64.06 %	86.70 %
Q4 2018	74.71 %	63.16 %	84.54 %
Q1 2019	73.22 %	63.50 %	86.73 %
Q2 2019	72.43 %	57.22 %	79.00 %
Q3 2019	70.96 %	57.77 %	81.42 %
Q4 2019	72.25 %	57.17 %	79.14 %
Q1 2020	70.86 %	58.41 %	82.42 %
Q2 2020	70.55 %	57.29 %	81.20 %
Q3 2020	68.27 %	57.54 %	84.29 %
Q4 2020	68.41 %	55.43 %	81.03 %
Q1 2021	67.64 %	57.71 %	85.31 %
Q2 2021	68.45 %	59.15 %	86.41 %
Q3 2021	66.87 %	60.66 %	90.71 %
Q4 2021	68.56 %	61.51 %	89.72 %
Q1 2022	68.59 %	62.31 %	90.85 %
Q2 2022	68.57 %	58.25 %	84.94 %
Q3 2022	67.60 %	61.03 %	90.29 %
Q4 2022	68.15 %	58.25 %	85.46 %
Q1 2023	68.71 %	58.08 %	84.52 %
Q2 2023	66.50 %	59.32 %	89.20 %
Q3 2023	66.98 %	62.09 %	92.70 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2013	78.38 %	59.85 %	76.36 %
2014	77.75 %	61.42 %	78.99 %
2015	79.30 %	67.08 %	84.59 %
2016	75.59 %	65.02 %	86.01 %
2017	74.75 %	62.36 %	83.43 %
2018	74.71 %	63.16 %	84.54 %
2019	72.25 %	57.17 %	79.14 %
2020	68.41 %	55.43 %	81.03 %
2021	68.56 %	61.51 %	89.72 %
2022	68.15 %	58.25 %	85.46 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2014	1,500.00	2.60	2.60	-	15.35
Q2 2014	1,500.00	2.71	2.71	-	16.10
Q3 2014	1,500.00	2.85	2.85	-	16.93
Q4 2014	1,500.00	2.84	2.84	-	17.38
Q1 2015	1,500.00	2.87	2.87	-	17.40
Q2 2015	1,500.00	2.85	2.85	-	18.17
Q3 2015	1,500.00	2.91	2.91	-	18.27
Q4 2015	1,500.00	2.89	2.89	-	18.78
Q1 2016	1,500.00	2.90	2.90	-	19.09
Q2 2016	1,500.00	2.91	2.91	-	19.87
Q3 2016	1,500.00	2.82	2.82	-	20.10
Q4 2016	1,500.00	2.60	2.60	-	20.85
Q1 2017	1,500.00	2.53	2.53	-	21.30
Q2 2017	1,500.00	2.51	2.51	-	21.83
Q3 2017	1,500.00	2.57	2.57	-	21.83
Q4 2017	1,500.00	2.64	2.64	-	22.23
Q1 2018	1,500.00	2.60	2.60	-	21.18
Q2 2018	1,500.00	2.40	2.40	-	21.98
Q3 2018	1,500.00	2.38	2.38	-	21.89
Q4 2018	1,500.00	1.81	2.51	-	21.64
Q1 2019	1,916.10	1.49	2.07	-	22.67
Q2 2019	1,916.10	0.95	1.57	-	26.91
Q3 2019	1,916.10	1.01	1.71	-	26.77
Q4 2019	1,916.10	1.44	1.66	-	27.25
Q1 2020	2,054.80	1.28	1.50	-	27.04
Q2 2020	2,054.80	(1.97)	1.87	-	23.46
Q3 2020	2,054.80	(2.03)	1.80	-	24.18
Q4 2020	2,054.80	(2.02)	1.83	(2.03)	24.65
Q1 2021	2,054.80	(2.02)	1.78	(2.03)	25.27
Q2 2021	2,054.80	1.76	1.92	1.76	25.69
Q3 2021	2,054.80	1.68	1.78	1.68	25.55
Q4 2021	2,054.80	1.56	1.56	1.56	25.76
Q1 2022	2,054.80	1.58	1.58	1.58	26.12
Q2 2022	2,054.80	1.66	1.66	1.66	26.19
Q3 2022	2,054.80	1.96	1.90	1.96	26.01
Q4 2022	2,054.80	2.35	2.30	2.35	26.59
Q1 2023	2,054.80	2.72	2.67	2.72	27.76
Q2 2023	2,054.80	2.95	2.90	2.95	27.59
Q3 2023	2,054.80	3.10	3.11	3.10	27.03

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2013	1,500.00	2.52	2.52	-	15.22
2014	1,500.00	2.84	2.84	-	17.38
2015	1,500.00	2.89	2.89	-	18.78
2016	1,500.00	2.60	2.60	-	20.85
2017	1,500.00	2.64	2.64	-	22.23
2018	1,500.00	1.81	2.51	-	21.64
2019	1,916.10	1.44	1.66	-	27.25
2020	2,054.80	(2.02)	1.83	(2.02)	24.65
2021	2,054.80	1.56	1.56	1.56	25.76
2022	2,054.80	2.35	2.30	2.35	26.59

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	16.48	16.48	2.80
Q2 2014	16.40	16.40	2.76
Q3 2014	19.64	19.64	3.30
Q4 2014	18.74	18.74	3.07
Q1 2015	15.36	15.36	2.53
Q2 2015	15.94	15.94	2.50
Q3 2015	13.15	13.15	2.09
Q4 2015	11.74	11.74	1.81
Q1 2016	10.71	10.71	1.63
Q2 2016	9.55	9.55	1.40
Q3 2016	9.03	9.03	1.27
Q4 2016	13.19	13.19	1.64
Q1 2017	12.26	12.26	1.45
Q2 2017	14.63	14.63	1.68
Q3 2017	14.44	14.44	1.70
Q4 2017	14.03	14.03	1.66
Q1 2018	16.53	16.53	2.03
Q2 2018	18.02	18.02	1.97
Q3 2018	18.39	18.39	2.00
Q4 2018	24.71	17.80	2.07
Q1 2019	27.27	19.61	2.28
Q2 2019	45.75	27.74	1.51
Q3 2019	32.18	19.15	1.14
Q4 2019	25.85	22.45	1.27
Q1 2020	15.82	13.49	0.75
Q2 2020	NEG	12.19	0.97
Q3 2020	NEG	14.09	1.05
Q4 2020	NEG	13.45	1.00
Q1 2021	NEG	14.72	1.04
Q2 2021	17.90	16.47	1.23
Q3 2021	19.73	18.66	1.30
Q4 2021	21.15	21.15	1.28
Q1 2022	25.21	25.21	1.52
Q2 2022	24.59	24.59	1.55
Q3 2022	19.97	20.53	1.51
Q4 2022	16.57	16.93	1.46
Q1 2023	12.96	13.20	1.27
Q2 2023	12.94	13.16	1.38
Q3 2023	11.13	11.12	1.28

Period	P/E	Adjusted P/E	Price/book
2013	15.97	15.97	2.64
2014	18.74	18.74	3.07
2015	11.74	11.74	1.81
2016	13.19	13.19	1.64
2017	14.03	14.03	1.66
2018	24.71	17.80	2.07
2019	25.89	22.48	1.27
2020	NEG	13.52	1.00
2021	21.15	21.15	1.28
2022	16.57	16.93	1.46

Business Segments (Million)

Compared With The

Period	Corporate and Institutional Banking	Retail	Global markets and Treasury	Capital Markets	Securities	Others
Q1 2014	765.86	523.73	331.36	-	-	-
Q2 2014	775.98	566.57	321.20	-	-	-
Q3 2014	737.30	591.36	325.94	-	-	-
Q4 2014	713.87	566.28	282.77	-	-	-
Q1 2015	764.09	556.61	396.48	-	-	-
Q2 2015	719.96	610.16	344.86	-	-	-
Q3 2015	793.40	573.68	322.18	-	-	-
Q4 2015	692.91	571.24	285.06	-	-	-
Q1 2016	809.69	567.45	418.42	-	-	-
Q2 2016	816.05	596.58	348.48	-	-	-
Q3 2016	744.91	605.70	298.85	-	-	37.84
Q4 2016	769.26	588.11	307.27	-	-	-
Q1 2017	820.93	629.32	373.81	-	-	-
Q2 2017	813.48	648.25	317.88	-	-	-
Q3 2017	782.34	651.12	298.94	-	-	31.50
Q4 2017	802.81	638.75	296.78	-	-	-
Q1 2018	837.17	636.19	297.53	-	-	(9.24)
Q2 2018	858.65	676.74	297.90	-	-	35.24
Q3 2018	859.33	660.93	305.03	-	-	36.06
Q4 2018	884.78	649.51	299.50	-	-	(2.47)
Q1 2019	974.49	665.28	287.07	-	-	43.18
Q2 2019	1,001.14	702.09	294.50	-	-	12.88
Q3 2019	1,256.87	1,083.30	262.72	-	-	66.75
Q4 2019	1,213.52	1,018.68	310.69	-	-	20.17
Q1 2020	1,161.94	827.87	352.35	-	-	26.74
Q2 2020	1,034.10	794.71	503.14	-	-	(13.86)
Q3 2020	967.46	726.29	447.62	-	-	-
Q4 2020	869.28	813.77	370.56	-	-	(4.00)
Q1 2021	864.31	692.77	458.25	-	-	6.20
Q2 2021	872.68	613.31	413.06	-	-	23.59
Q3 2021	828.72	635.72	462.48	19.15	-	(17.38)
Q4 2021	674.18	580.73	528.64	6.62	-	15.33
Q1 2022	903.95	650.36	469.17	8.09	-	(19.04)
Q2 2022	1,037.29	706.18	489.19	8.60	-	0.68
Q3 2022	1,372.84	731.82	401.03	126.99	-	(17.52)
Q4 2022	1,544.57	737.61	468.85	67.41	-	(37.84)
Q1 2023	1,691.53	813.47	647.53	64.68	-	0.36
Q2 2023	1,653.50	862.95	481.06	80.29	-	(11.05)
Q3 2023	1,779.84	895.42	509.78	81.37	-	(19.13)

Period	Corporate and Institutional Banking	Retail	Global markets and Treasury	Capital Markets	Securities	Others
2013	2,711.44	1,930.51	1,173.44	-	-	-
2014	2,993.01	2,247.93	1,261.27	-	-	-
2015	2,970.36	2,311.69	1,348.58	-	-	-
2016	3,139.91	2,357.83	1,373.02	-	-	37.84
2017	3,219.56	2,567.44	1,287.42	-	-	52.50
2018	3,439.92	2,623.37	1,199.96	-	-	59.59
2019	4,446.02	3,469.35	1,154.99	-	-	142.97
2020	4,032.78	3,162.64	1,673.66	-	-	8.88
2021	3,239.89	2,522.52	1,862.43	25.77	-	27.74
2022	4,858.65	2,825.98	1,828.23	211.09	-	(73.72)

Analysts Estimates (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change‬
Average	1,613.24	1,830.33	13.46 %

Estimates vs Actual (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change
Goldman Sachs	1,684.94	1,830.33	8.6 %
Hermes	1,672.00	1,830.33	9.5 %
Riyad Capital	1,664.00	1,830.33	10.0 %
Bank of America	1,662.68	1,830.33	10.1 %
U-Capital	1,576.00	1,830.33	16.1 %
OSOOL AND BAKHEET	1,526.06	1,830.33	19.9 %
Sico	1,507.00	1,830.33	21.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	64,726.20
Shares Outstanding ((M))	2,054.80
EPS ( Riyal) (TTM)	3.80
EPS Diluted ( Riyal) (TTM)	3.68
Book Value (BV) ( Riyal)	29.29
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	8.30
P/E (TTM)	8.30
Price/book	1.08
Return on Average Assets (%) (TTM)	2.1
Return on Average Equity (%) (TTM)	13.5

Saudi Awwal Bank (SAB)

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SAB 9M 2023 profit up 43% to SAR 5.14 bln; Q3 at SAR 1.83 bln

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Financials (M)

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SAB 9M 2023 profit up 43% to SAR 5.14 bln; Q3 at SAR 1.83 bln

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Financials (M)

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Financial results (Million)

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Profit Performance (Million)

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Profitability

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