Arab National Bank (ANB), which is 40%-owned by Jordan’s Arab Bank, reported a net profit of SAR 4.07 billion for the twelve months ended Dec. 31, 2023, an increase of 33%, compared to SAR 3.07 billion for the year-earlier period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Net Special Commission Income | 5,636.45 | 7,136.99 | 26.6 % |
| Operating Income | 6,862.24 | 8,411.23 | 22.6 % |
| Total Provisions | (869.50) | (668.59) | 23.1 % |
| Net Income | 3,070.41 | 4,070.51 | 32.6 % |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 2.05 | 2.71 | 32.6 % |
| EPS Diluted (Riyals) | 2.05 | 2.71 | 32.6 % |
Q4 2023 net earnings rose 19% to SAR 941.2 million, from SAR 790.8 million in the year-earlier period.
On a sequential basis, Q4 net profit declined by 12.5%.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,645.35 | 1,865.00 | 13.4 % |
| Operating Income | 1,918.74 | 2,096.38 | 9.3 % |
| Debt Provisions | (262.14) | 86.62 | 133.0 % |
| Net Income | 790.88 | 940.71 | 18.9 % |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 0.53 | 0.63 | 18.9 % |
| EPS Diluted (Riyal) | 0.53 | 0.63 | 18.9 % |
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Assets | 212.63 | 220.68 | 3.8 % |
| Customer Deposits | 154.87 | 165.86 | 7.1 % |
| Loan | 143.83 | 152.24 | 5.8 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 35.06 billion by Dec. 31, 2023, compared to SAR 32.33 billion in a prior-year period.
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