{"id":90815,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/23\/bank-earnings-take-center-stage\/"},"modified":"2024-10-23T00:00:00","modified_gmt":"2024-10-23T00:00:00","slug":"bank-earnings-take-center-stage","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/23\/bank-earnings-take-center-stage\/","title":{"rendered":"Bank earnings take center stage"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SAUDI NATIONAL BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi National Bank\u2019s (SNB) net income was up 7.1% y-o-y to SAR 5.4 bn in 3Q <\/strong><strong>2024<\/strong> on the back of higher operating income, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83076&anCat=1&cs=1180&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The lender\u2019s 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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis: <\/strong>SNB\u2019s 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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ARAB NATIONAL BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab National Bank (ANB) reported 15.5% y-o-y growth in its 3Q 2024 net income to SAR<\/strong><strong> 1.2 bn<\/strong> on the back of higher income from interest and lower loan loss provisions, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83074&anCat=1&cs=1080&locale=en\" style=\"\" rel=\"noopener\">a regulatory filing to Tadawul<\/a>. The lender\u2019s 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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> ANB\u2019s 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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANQUE SAUDI FRANSI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banque Saudi Fransi (BSF) saw its net income fall 7.8% <\/strong><strong>y-o-y<\/strong><strong> to SAR 1.1 bn in 3Q <\/strong><strong>2024<\/strong>, on the back of higher total operating expenses, it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83081&anCat=1&cs=1050&locale=en\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. Meanwhile, the lender\u2019s 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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis: <\/strong>BSF\u2019s 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. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi National Bank recorded SAR 5.4 bn in net income in 3Q 2024<\/p>\n","protected":false},"author":1,"featured_media":90816,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[285,10,365],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-first-mills","wpautop","entry"],"acf":{"mongo_id":"61e1efea-9ffd-458d-b050-ebf6e788aa82","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/712.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bank earnings take center stage: Saudi National Bank, Arab National Bank, Banque Saudi Fransi","related_issue":[90798],"teaser":"Saudi National Bank recorded SAR 5.4 bn in net income in 3Q 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.3db15800-b7cb-40ee-a4c6-b5d256226f25.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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