SAB’s 9M 2024 net profit rises 16% to SAR 5.9B; Q3 at SAR 1.9B

29/10/2024 Argaam Exclusive

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Saudi Awwal Bank (SAB) reported a net profit of SAR 5.9 billion for the first nine months of 2024, a jump of 16% from SAR 5.1 billion in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Net Special Commission Income	7,639.93	8,203.12	7.4 %
Operating Income	9,531.59	10,466.80	9.8 %
Total Provisions	(511.87)	(501.78)	2.0 %
Net Income	5,144.75	5,944.45	15.5 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	2.50	2.89	15.5 %
EPS Diluted (Riyals)	2.50	2.78	11.2 %

Gross special commission income rose by 24% year-on-year (YoY) during the nine-month period, primarily on the impact of interest rate hikes and loan portfolio growth. Similarly, net special commission income rose by 7%, as special commission expenses reflected the higher interest rate environment.

Total operating income grew YoY for the same period. This was mainly due to a SAR 563 million increase in net special commission income; a jump of SAR 220 million in net fee and commission income; and a SAR 152 million rise in the foreign exchange (FX) income.

However, the annual profit growth was partly offset by the increased total operating expenses (opex), primarily spurred by higher salaries and employee-related expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Net Special Commission Income	2,578.56	2,761.23	7.1 %
Operating Income	3,247.28	3,527.77	8.6 %
Debt Provisions	(144.38)	(308.90)	(114.0 %)
Net Income	1,830.33	1,883.17	2.9 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.89	0.92	2.9 %
EPS Diluted (Riyal)	0.89	0.88	(0.8 %)

Item	Q2 2024	Q3 2024	Change‬
Net Special Commission Income	2,733.13	2,761.23	1.0 %
Operating Income	3,491.61	3,527.77	1.0 %
Debt Provisions	(112.22)	(308.90)	(175.3 %)
Net Income	2,018.26	1,883.17	(6.7 %)
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.98	0.92	(6.7 %)
EPS Diluted (Riyal)	0.94	0.88	(6.4 %)

Q3 2024 net profit stood at SAR 1.9 billion, up 3% from SAR 1.83 billion a year earlier.

During the third quarter of this year, gross special commission income advanced by 19% YoY, thanks to interest rate hikes and loan portfolio growth.

This was partly offset by an increase in credit loss provisions, provisions for Zakat and income tax, and opex for the three-month period.

Additionally, the increase in the third-quarter total operating income was driven by rising net special commission income, FX income, net fee and commission income, and gains from FVSI financial instruments.

On a sequential basis, net earnings decreased by 6.7% from SAR 2.02 billion.

Balance Sheet (B)

Item	9m 2023	9m 2024	Change‬
Assets	340.48	395.35	16.1 %
Customer Deposits	228.05	260.63	14.3 %
Loan	211.40	252.40	19.4 %

Total shareholders’ equity (no minority interest and excluding Sukuk) stood at SAR 60.17 billion by Sept. 30, 2024, compared to SAR 55.53 billion a year earlier.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
Q4 2023	2,701.54	17.9 %	3,178.87	14.3 %	(50.58)	76.2 %
2023	10,341.47	39.6 %	12,710.46	33.2 %	(562.44)	(26.3 %)
Q1 2024	2,708.75	6.9 %	3,447.42	7.1 %	(80.66)	64.8 %
Q2 2024	2,733.13	8.1 %	3,491.61	13.9 %	(112.22)	19.0 %
Q3 2024	2,761.23	7.1 %	3,527.77	8.6 %	(308.90)	(114.0 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %
2023	10,341.47	39.6 %	12,710.46	33.2 %	(562.44)	(26.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q4 2023	1,857.63	50.5 %	0.90	-	1,857.63	0.90
2023	7,002.37	45.0 %	3.41	-	7,002.37	3.41
Q1 2024	2,043.02	15.8 %	0.99	-	2,043.02	0.99
Q2 2024	2,018.26	30.2 %	0.98	-	2,018.26	0.98
Q3 2024	1,883.17	2.9 %	0.92	-	1,883.17	0.92

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
2023	7,002.37	45.0 %	3.41	-	7,002.37	3.41

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
Q4 2023	2.09 %	12.44 %	81.36 %
2023	2.09 %	12.44 %	81.36 %
Q1 2024	2.08 %	12.55 %	81.27 %
Q2 2024	2.16 %	13.42 %	80.22 %
Q3 2024	2.12 %	13.48 %	79.91 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
2023	2.09 %	12.44 %	81.36 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
Q4 2023	356.64	13.4 %	240.94	12.4 %	215.94	17.9 %
Q1 2024	369.61	12.4 %	251.76	11.4 %	228.54	19.7 %
Q2 2024	382.30	14.1 %	264.43	18.7 %	241.55	21.6 %
Q3 2024	395.35	16.1 %	260.63	14.3 %	252.40	19.4 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
12m 2023	356.64	13.4 %	240.94	12.4 %	215.94	17.9 %
3m 2024	369.61	12.4 %	251.76	11.4 %	228.54	19.7 %
6m 2024	382.30	14.1 %	264.43	18.7 %	241.55	21.6 %
9m 2024	395.35	16.1 %	260.63	14.3 %	252.40	19.4 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
2023	356.64	13.4 %	240.94	12.4 %	215.94	17.9 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
Q4 2023	67.56 %	60.55 %	89.62 %
Q1 2024	68.11 %	61.83 %	90.78 %
Q2 2024	69.17 %	63.18 %	91.35 %
Q3 2024	65.93 %	63.84 %	96.84 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
2023	67.56 %	60.55 %	89.62 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
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
Q4 2023	2,054.80	3.41	3.41	3.40	28.19
Q1 2024	2,054.80	3.54	3.54	3.50	28.73
Q2 2024	2,054.80	3.77	3.77	3.69	28.60
Q3 2024	2,054.80	3.80	3.80	3.68	29.29

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
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
2023	2,054.80	3.41	3.41	3.41	28.19

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q4 2023	11.15	11.15	1.34
Q1 2024	11.42	11.42	1.39
Q2 2024	10.33	10.33	1.33
Q3 2024	9.42	9.42	1.18

Period	P/E	Adjusted P/E	Price/book
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
2023	11.11	11.11	1.34

Business Segments (Million)

Compared With The

Period	Corporate and Institutional Banking	Retail	Global markets and Treasury	Capital Markets	Securities	Others
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)
Q4 2023	1,744.80	882.00	422.63	111.18	-	18.26
Q1 2024	1,808.97	965.05	564.49	110.23	-	(1.32)
Q2 2024	1,845.08	1,028.32	505.60	111.46	-	1.16
Q3 2024	1,921.71	1,072.31	422.23	113.12	-	(1.61)

Period	Corporate and Institutional Banking	Retail	Global markets and Treasury	Capital Markets	Securities	Others
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)
2023	6,869.68	3,453.83	2,060.99	337.52	-	(11.56)

Analysts Estimates (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change‬
Average	1,976.98	1,883.17	(4.7 %)

Estimates vs Actual (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change
Bank of America	1,884.00	1,883.17	0.0 %
United Securities Company	1,892.00	1,883.17	(0.5) %
OSOOL AND BAKHEET	1,923.64	1,883.17	(2.1) %
U-Capital	1,962.20	1,883.17	(4.0) %
Hermes	1,975.00	1,883.17	(4.6) %
Arqaam Capital	1,975.00	1,883.17	(4.6) %
Sico	2,007.00	1,883.17	(6.2) %
Riyad Capital	2,007.00	1,883.17	(6.2) %
Citi Bank Group	2,055.00	1,883.17	(8.4) %
SNB Capital	2,089.00	1,883.17	(9.9) %

Financial Ratios

	Current
Market Cap (M Riyal)	65,239.90
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)	8.36
P/E (TTM)	8.36
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’s 9M 2024 net profit rises 16% to SAR 5.9B; Q3 at SAR 1.9B

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

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Per Share Data (Riyal)

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Ratios And Multiples

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SAB’s 9M 2024 net profit rises 16% to SAR 5.9B; Q3 at SAR 1.9B

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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)

Ratios And Multiples

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Revenue by Business Segment (Latest) 2024 Q3

Analysts Estimates (Million)

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Saudi Awwal Bank (SAB)

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Business Segments (Million)