Saudi National Bank Full Year 2024 Earnings: In Line With Expectations

Saudi National Bank (TADAWUL:1180) Full Year 2024 Results

Key Financial Results

• Revenue: ر.س35.0b (up 4.0% from FY 2023).
• Net income: ر.س21.2b (up 10% from FY 2023).
• Profit margin: 61% (up from 57% in FY 2023). The increase in margin was primarily driven by lower expenses.
• EPS: ر.س3.44 (up from ر.س3.23 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Saudi National Bank Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Saudi Arabia.

Performance of the Saudi Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Saudi National Bank, and understanding it should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.