SAB’s net profits exceed SAR 5.9bn in 9M-24 - Mubasher Info

SAB
1060 -2.96% 34.40 -1.05 Default Company
7204.B 0.00% 0.00 0.00

Riyadh – Mubasher: Saudi Awwal Bank (SAB) posted 15.52% higher net profits at SAR 5.94 billion in the first nine months (9M) of 2024, compared to SAR 5.14 billion in 9M-23.

Earnings per share (EPS) jumped to SAR 2.78 in 9M-24 from SAR 2.50 a year earlier, according to the interim financial statements.

As of 30 September 2024, the clients’ deposits reached SAR 260.63 billion, an annual increase of 14.28% from SAR 228.05 billion.

Assets climbed by 16.11% to SAR 395.34 billion in 9M-24 from SAR 340.47 billion in 9M-23, while investments grew by 10.03% to SAR 97.70 billion from SAR 88.79 billion.

Financials for Q3-24

The Saudi lender logged net profits valued at SAR 1.88 billion in the third quarter (Q3) of 2024, up 2.89% year-on-year (YoY) from SAR 1.83 billion.

Quarterly, the Q3-24 profits declined by 6.68% from SAR 2.01 billion in Q2-24.

Source: Mubasher Source: {{details.article.source}}