Saudi National Bank reports 11% rise in 2021 income amid continued economic recovery – The National

Saudi National Bank reports 11% rise in 2021 income amid continued economic recovery – The National

Saudi National Bank, the kingdom’s biggest lender by assets, reported an 11 per cent increase in 2021 profit as operating profit rose amid continued economic recovery.

Net profit for the 12 months to the end of December climbed to about 12.7 billion riyals ($3.4bn), the lender said in a statement on Wednesday to the Tadawul Stock Exchange, where its shares are traded.

This is the first time SNB, which completed its merger with Samba Financial Group last year to create the regional banking powerhouse, reports annual results.