Market: Tadawul Symbol: 1180 ISIN: SA13L050IE10 Industry: Bank

The Saudi National Bank (SNB) is the largest financial institution in Saudi Arabia and one of the largest powerhouses in the region. SNB plays a vital role in supporting economic transformation in Saudi Arabia by transforming the local banking sector and catalyzing the delivery of Saudi Arabia’s Vision 2030. Its strategy is closely aligned with the Vision’s programs. SNB also leverages its position as the largest institutional and specialized financier in the Kingdom to support the Kingdom’s landmark deals and mega projects.

SNB’s vision is to be a premier financial and banking service provider locally and regionally through the fulfilment of strategic aspirations: to be number one in revenues, number one in profit, the best in customer service, the best digital bank, and the employer of choice, and the best Shariah-compliant products service provider in the world. The Bank’s effort to achieve these aspirations is reflected in achieving record annual profits for the eighth consecutive year.

SNB seeks to leverage the expanded scale, reach, and digital capabilities to provide enhanced products and deliver unparalleled customer experience. SNB robust balance sheet, resilient business model, and healthy liquidity position enhance the Bank’s capability to compete locally and regionally, and to facilitate trade and capital flows between the Kingdom and regional and global markets.

SNB delivers best-in-class digital solutions, drive homeownership through growth in residential finance, foster MSME development and lending, and seeks to be the foremost trusted partner for top-tier Saudi corporates and institutions to support the Kingdom’s mega deals and projects, and to be the biggest provider of Shariah-compliant products for all segments. The Saudi National Bank is a leader in treasury and capital markets, and it owns both NCB Capital and Samba Capital & Investment Management, who, together would form the biggest asset manager, brokerage and investment bank in Saudi Arabia. SNB has a strong international presence in Middle East, South Asia and Turkey, which supports the Bank’s vision to compete regionally and internationally to earn our place as a global leader in financial services.

SNB is a committed supporter of Saudization, creating many opportunities for young people and achieving record rates of Saudization, its senior management team are predominantly Saudi. SNB also gives great importance to empowering women, giving them big opportunities to assume leading positions at the Bank. Corporate responsibility is an essential element of SNB corporate culture and business philosophy. Its corporate responsibility strategy focuses on empowering individuals and non-profit organizations, and supporting community activities.

Our Presence 2024

Map
Currency
Last Closing Price 34.70
Change (%) 0.43
Volume 9,045,276
Number of Shares (mln) 6,000
Market Cap (mln) 208,200
FINANCIAL HIGHLIGHTS (SAR '000) 2022 2023 2024
Income statement      
Net special commission income 26,287,199 27,008,940 27,730,190
Total operating income 33,004,553 34,589,401 36,038,363
Total operating expenses 11,470,202 11,279,831 12,060,984
Net income for the year 18,728,837 20,108,827 21,093,646
Basic earnings per share (SAR) 3.03 3.23 3.44
Diluted earnings per share (SAR) 3.02 3.23 3.43
Balance sheet      
Investments, net 258,291,891 269,128,954 292,486,807
Financing and advances, net 545,310,659 601,527,454 654,252,346
Customers’ deposits 568,283,076 590,051,062 579,762,107
Total assets 945,496,166 1,037,081,167 1,104,154,640
Total liabilities 778,718,535 860,452,454 910,879,379
Total equity 166,777,631 176,628,713 193,275,261
Key performance indicators (KPIs) (%)      
Cost to income ratio 27.1 27.6 28.3
Cost of risk 0.33 0.16 0.16
CET1 ratio 16.1 17.3 17.6
T1 ratio 18.3 19.4 20.3
Total capital ratio 19.0 20.1 20.8
Liquidity coverage ratio (LCR) 277.6 258.1 265.2