SNB Increasing Revenues from Business’ Activities, in table & details

Saudi National Bank (SNB) made net profits before zakat and income tax of SR14.44 billion in 2021, up from SR12.93 billion the previous year, an 11.6% increase, similar to the rate of increase in net income after zakat and income tax, which is SR12.78 billion, up from SR11.56 billion, a 10.6% increase.

Net loans and advances to the individual sector increased by 50.2% to SR261.08 billion in 2021, compared to SR173.80 billion in 2020, while profits before zakat and income tax from the sector fell by 9.2% to SR5.46 billion in 2021, compared to SR6.02 billion in 2020.

In the corporate sector, net loans and advances climbed by 55.9% to SR206.88 billion in 2021, compared to SR132.70 billion in 2020, and the bank had a net profit before zakat and income tax of SR7.46 billion in 2021, up 32.6% from SR5.63 billion in 2020.

Net loans and advances in the international banking sector decreased by 27.9% in 2021 to SR16.11 billion, compared to SR22.33 billion in 2020, while net profit before zakat and income tax increased to SR0.55 billion in 2021, up from SR0.48 billion in 2020.

But, in 2020, there will be a 15% hike.

In the money market, net loans and advances fell by 33.8% to SR11.84 billion in 2021, compared to SR17.88 billion in 2020, but the bank’s net profit before zakat and income tax increased by 18.9% to SR0.97 billion, up from SR0.82 billion in 2020.

In 2021, the volume of deposits with SNB climbed by 41% to SR586.94 billion, up from SR416.42 billion in 2020.

Individual deposits increased by 39.8% to SR331.77 billion in 2021, compared to SR237.36 billion in 2020, while corporate deposits increased by 54.3% to SR230.32 billion, and money market deposits increased by 32.6% to SR5.58 million, compared to SR4.21 million in 2020, while international banking deposits declined.

Source: SNB, Tadawul, Maaal follow up uint