SAUDI NATIONAL BANK-

Saudi National Bank’s (SNB) net income was up 7.1% y-o-y to SAR 5.4 bn in 3Q 2024 on the back of higher operating income, it said in a disclosure to Tadawul. The lender’s total income from financing grew 13.7% y-o-y to SAR 11.6 bn, while total income from investment jumped 16.6% y-o-y to SAR 3.4 bn over the same period.

On a 9M basis: SNB’s bottomline grew 3.9% y-o-y to SAR 15.6 bn during the first nine months of the year. Its total income from financing was up 19.8% y-o-y to SAR 33.4 bn, while total income from investment was up 15.2% to SAR 9.6 bn.

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ARAB NATIONAL BANK-

Arab National Bank (ANB) reported 15.5% y-o-y growth in its 3Q 2024 net income to SAR 1.2 bn on the back of higher income from interest and lower loan loss provisions, it said in a regulatory filing to Tadawul. The lender’s total income from financing clocked in at SAR 3.1 bn, up 16.5% y-o-y, while its total income from investments grew 9% y-o-y to SAR 657 mn.

On a 9M basis: ANB’s bottomline reported a 18.5% increase to SAR 3.7 bn in the first nine months of the year, compared to the same period last year. Total income from financing was up 19.2% y-o-y to SAR 8.9 bn, while its total income from investment saw a 9.9% uptick to SAR 1.9 bn.

BANQUE SAUDI FRANSI-

Banque Saudi Fransi (BSF) saw its net income fall 7.8% y-o-y to SAR 1.1 bn in 3Q 2024, on the back of higher total operating expenses, it said in a disclosure to Tadawul. Meanwhile, the lender’s total income from financing hit SAR 3.6 bn, up 19.8% y-o-y, while its total income from investment came in at SAR 581 mn, up 29% compared to the same period last year.

On a 9M basis: BSF’s bottomline ticked up slightly by 0.9% y-o-y to SAR 3.4 bn in the first nine months of the year. Its total income from financing was up 22.7% to SAR 10 bn, while its total income from investment hit SAR 1.7 bn, up 48% compared to 9M 2023.

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