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- CBB Treasury Bills oversubscribed
- Qatar's Government tenders reach QR5.5 billion in Q2 2025
- Workshop held to highlight Oman's circular economy gap calculation project
- Tender results of Government Treasury Bills worth OMR 21.7 million issued
- Saudi sustainable building demand triples
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- Dubai's Damas Jewellery gets big new owner after Dh1 billion buyout by India's Titan
- RAKBank's H1-25 profit surges to Dh1.37b on higher fee income - lower impairments
- GCC bond and sukuk issuances decline 22% to $100bn in H1
- Saudi Arabian Bank SNB Reports 17% Jump in Second-quarter Profit
22/07/2025 01:14 AST
Saudi National Bank (SNB) reported a 17.3% jump in second-quarter net profit on Monday, driven by higher income and lower net impairment charges.
SNB's shares jumped 1.8% at market open after the results, and have risen just over 10% since January.
The Kingdom's biggest lender by assets said it made a net profit of 6.1 billion riyals ($1.63 billion) in the quarter ended June 30, higher than the 5.6 billion riyals analysts were expecting, and compared with 5.2 billion riyals in the year-earlier period.
SNB said the results were driven by higher net special commission income and operating income, in addition to lower net impairment charges for expected credit losses.
According to Reuters, SNB said pre-provision credit was driven by strong credit quality and higher recoveries.
SNB will pay a first-half dividend after zakat, an Islamic tax, worth 1 riyal per share to 6 billion eligible shares, according to a separate bourse disclosure that followed the results.
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13/05/2025
Areeb Capital, a prominent real estate fund management company, announced signing a new financing agreement with the Saudi National Bank (SNB) worth SR5.8 billion.
This agreement will enhanc
Saudi Gazette
23/04/2025
The Saudi National Bank (SNB), the largest bank in Saudi Arabia, announced a net income of SR6.0 billion for the first quarter of 2025, representing its highest-ever quarterly financial results. This
Arab News
31/12/2017
The Board of Directors of NCB has recommended on 28-12-2017 corresponding to 10-04-1439H to an Extraordinary General Shareholders Assembly (EGAM) an increase the Banks capital through bonus shares as
Tadawul
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22/07/2025
Another leading UAE bank hits the sweet spot on H1-2025 numbers, with RAKBank carving out a strong profit after tax growth of 26.1% to Dh1.37 billion. In the April to end June phase, the bottom-line
Gulfnews
22/07/2025
One of the Gulf's most iconic jewellery names is getting an ambitious new owner.
Titan Company, a Tata Group enterprise, is acquiring a 67% stake in Damas Jewellery, the century-old Dubai-b
Gulfnews
22/07/2025
The Chairman of the Board of Directors of Qatar International Islamic Bank (QIIB), Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani announced the Bank's financial results for the first half (H1) of
The Peninsula
21/07/2025
Acwa Power has signed key project agreements with the Government of Senegal for the Grande-Côte seawater desalination project.
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Trade Arabia
21/07/2025
Leading UAE business conglomerate Al Futtaim today (July 20) announced that it has agreed to buy a major stake in Cenomi Retail, Saudi Arabia's leading retail brand partner, in a deal worth SAR2.5 bi
Trade Arabia
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