Latest news with #ArabNationalBank
Zawya
a day ago
- Business
- Zawya
Saudi: ANB's profits hit $693mln in H1-25; dividends unveiled
Riyadh – Arab National Bank (ANB) recorded 7.05% higher net profits at SAR 2.64 billion in the first half (H1) of 2025, compared to SAR 2.46 billion in H1-24. Earnings per share (EPS) hit SAR 1.32 in H1-25, higher than SAR 1.23 in H1-24, according to the financial results. The lender registered 14.88% year-on-year (YoY) higher clients' deposits at SAR 201.73 billion in the first six months (6M) of 2025, compared to SAR 175.59 billion. Assets increased by 14.22% to SAR 268.98 billion as of 30 June 2025 from SAR 235.49 billion in H1-24, while the investments jumped by 11.14% to SAR 54.31 billion from SAR 48.86 billion. Results for Q2 In the second quarter (Q2) of 2025, the net profits reached SAR 1.33 billion, higher by 8.52% YoY than SAR 1.23 billion. Quarterly, the Q2-25 net profits climbed by 2.45% from the SAR 1.30 billion registered in January-March 2025. Cash Dividends The board members decided to disburse cash dividends after Zakat amounting to SAR 1.29 billion, representing 6.50% of its share capital, for H1-25. ANB will pay SAR 0.65 per share for 1.99 billion eligible shares, according to a bourse disclosure. Eligibility and payment dates for the dividends will be 27 July and 6 August 2025, respectively. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Argaam
13-07-2025
- Business
- Argaam
PIF's THC inks SAR 600M Islamic facility deal with ANB
The Helicopter Co. (THC), a wholly-owned subsidiary of the Public Investment Fund (PIF) and the largest commercial helicopter operator in Saudi Arabia, signed a SAR 600 million Islamic credit facility agreement with Arab National Bank (ANB). The financing represents a major boost to the company's loan structure through a long repayment period of eight years, supporting its ambitions to meet changing needs, enhance its flexibility to capitalize on strategic growth opportunities, and enable it to expand into other markets and services, the company said, in a statement. It added that the financing allows it to solidify its operational strength and effectively adapt to market changes and respond quickly and effectively to its requirements and promising future opportunities.
Arab News
07-07-2025
- Business
- Arab News
Saudi Arabia's National Development Fund secures $1.3bn in credit facilities to boost development projects
RIYADH: Saudi Arabia's National Development Fund has secured SR5 billion ($1.3 billion) in credit facilities through two agreements with Al-Rajhi Bank and Arab National Bank. The deals are designed to enhance funding for key development projects across the Kingdom, empowering its 12 affiliated development funds and financial institutions to drive economic growth and accelerate national transformation, according to the Saudi Press Agency. The agreements represent a strategic move in the NDF's push to promote sustainable development and strengthen Saudi Arabia's private sector, reflecting the Kingdom's increasing reliance on public-private partnerships to drive economic growth. This approach supports broader efforts to reduce government dependence and enhance private investment in key sectors, such as infrastructure, renewable energy, and technology. The pacts were formalized during a signing ceremony at the fund's headquarters in Riyadh. Khalid Shareef, vice governor of the NDF, said that the initiative aligns with the fund's strategy to foster stronger partnerships between the government and private financial institutions. 'The goal is to provide credit products to the development system through the fund and its associated development banks,' Shareef said. He added: 'This will empower these institutions to effectively implement their strategic projects and expansion plans, thereby increasing their contribution to economic growth and supporting the objectives of Saudi Vision 2030.' In a separate statement, Al-Rajhi Bank announced that the deal with NDF is valued at SR3 billion for a 12-month duration. 'The agreement aims to strengthen the support of development projects in the Kingdom and enable the development banks of the development system to achieve their development goals, contributing to enhancing economic growth and accelerating the pace of national transformation,' the statement said. In a post on its official X account, the NDF said that the agreements are part of its 'commitment to supporting development projects and empowering funds and banks within its ecosystem.' Speaking to Arab News in February, Jaber Al-Salah, chairman of the academic chapter and member of the steering committee of the World Association of Public-Private Partnership Units and Professionals, explained how the deals align with the Vision 2030 drive to boost the private sector's contribution to gross domestic product from 40 percent to 65 percent by the end of the decade. 'PPPs offer several benefits to the private party, making them an attractive option for collaboration. These partnerships also support government objectives by improving public asset efficiency, enhancing service coverage, quality, and rationalizing spending,' he said.
Argaam
02-07-2025
- Business
- Argaam
Morgan Stanley Saudi Arabia to act as market maker for 38 Nomu stocks
The Saudi Exchange (Tadawul) approved today, July 2, Morgan Stanley Saudi Arabia's request to conduct market-making activities on 38 companies listed on the Nomu-Parallel Market, starting July 3. Tadawul noted that Morgan Stanley Saudi Arabia will adhere to the existing market-making rules and procedures. The Tadawul-listed companies are Bank AlJazira, BSF, Arab National Bank (ANB), Saudi Steel Pipe, Seera Group Holding, Al Mawarid Manpower, SABIC Agri-Nutrients, Marafiq, Saudi Arabian Amiantit, Tanmiah Food, United Electronics, United International Holding, Red Sea International, CATRION, National Agricultural Development, Allied Cooperative Insurance Group, Anaam International Holding Group, Al-Rajhi Company for Cooperative Insurance, and CHUBB Arabia Cooperative Insurance. In Nomu, the companies under coverage are Arabian United Float Glass, Arabian Plastic Industrial, Al-Razi Medical, Sama Healthy Water Factory, Qomel, Sure Global Tech, Academy of Learning, Watani Iron Steel, Ghida Alsultan for Fast Food, Tam Development, Yaqeen Capital, Lana Medical, Al-Modawat Specialized Medical, Enma AlRawabi, Mohammed Hasan AlNaqool Sons, Balady Poultry, Alfakhera for Mens Tailoring, and Arabica Star .
Zawya
28-04-2025
- Business
- Zawya
Saudi: ANB's net profits up 5.5% in Q1-25
Riyadh – Arab National Bank (ANB) posted net profits amounting to SAR 1.30 billion in the first quarter (Q1) of 2025, an annual growth of 5.50% from SAR 1.23 billion. Earnings per share (EPS) stood at SAR 0.65 as of 31 March 2025, up year-on-year (YoY) from SAR 0.62, according to the financial results. Assets hiked by 13.64% YoY to SAR 264.65 billion in Q1-25 from SAR 232.88 billion, while the investments grew by 8.16% YoY to SAR 52.31 billion from SAR 48.36 billion. The clients' deposits hit SAR 195.61 billion in Q1-25, higher by 12.07% than SAR 174.54 billion in the first three months (3M) of 2024. Quarterly, the Q1-25 net profits rose by 3.73% from the SAR 1.25 billion generated in Q4-24. At the end of 2024, the lender's profits enlarged by 21.98% YoY to SAR 4.96 billion from SAR 4.07 billion. Source: Mubasher
