Saudi National Bank · TADAWUL:1180
Saudi National Bank — Q4 2024 Earnings Presentation
19 slides from Saudi National Bank's earnings presentation, Feb 12, 2025
Slide 1: 4Q 2024 Earnings Presentation
4Q 2024 Earnings Presentation Saudi National Bank 12 February 2025
Slide 2: Disclaimer
Disclaimer The Saudi National Bank (SNB) prepared this presentation on a proprietary basis as general background information about the activities of SNB. The information contained herein is given in summary form and for discussion purposes only. Some of the information that is relied upon by SNB is
Slide 3: Saudi National Bank: robust 2024 operational and financial performance
Saudi National Bank We concluded 2024 with robust operational and financial performance; While positioning the Bank for success in 2025 and beyond 2024 2024 DIVERSE BUSINESS MIX PRIORITIES PERFORMANCE HIGHLIGHTS Segment % of assets % of revenue Return on Tangible Equity1 Net Income2 +6% YoY Wholesal
Slide 4: SNB delivered consistent ROTE of 16.2% within guidance
Outlook & Guidance SNB delivered consistent ROTE of 16.2% within guidance SNB Financial Guidance FY 2023 Baseline FY 2024 Guidance FY 2024 Actual SAR 602bn SAR 654bn Financing Growth Low double-digit +10% +9% NSCI Margin 3.15% 3.0% to 3.2% 3.02% Group Cost to Income Ratio1 27.6% Below 28% 28.3% Dome
Slide 5: 4Q 2024 Performance Highlights
4Q 2024 Performance Highlights SNB delivers record Net Income on the back of continued growth momentum, solid fee income growth and stable asset quality Strong financing growth YoY from Wholesale financing and Retail Mortgages maintaining a stable NPL ratio1 SAR bn 654.3 SAR bn 290.1 SAR bn 181.0 %
Slide 6: Balance Sheet Summary
Balance Sheet Summary Balance sheet expansion of 6% mainly from financing growth and investments supported through debt capital markets activity Total Assets (SARbn) Total Assets Movement YoY (SARbn) 1,124.6 1,104.2 +6% 1,037.1 93 94 8.8 0.5 1,104.2 84 51.5 1,037.1 25.0 655 654 602 (18.8) 269 290 29
Slide 7: Financing & Advances
Financing & Advances Solid growth in Wholesale and Residential financing Financing & Advances, Net (SARbn) Financing & Advances, Net Movement YoY (SARbn) 2024 Guidance Low double-digit 655.3 654.3 601.5 3 3 +9% 2 18 17 16 35 35 28 6.7 1.2 1.2 654.3 259 256 20.8 235 19.7 3.2 601.5 Retail: SAR Wholesa
Slide 8: Investments
Investments Investments up 9% primarily in other fixed income and SGDS Investments, Net (SARbn) Investments, Net Movement YoY (SARbn) 290.5 292.5 +9% 269.1 25 26 22 12.9 2.6 292.5 87 87 9.5 89 269.1 (1.7) 158 178 180 +6% +16% +10% -23% 4Q 23 3Q 24 4Q 24 4Q 23 SGDS1 Other fixed Funds & equity Int'l 4
Slide 9: Customers' Deposits
Customers' Deposits Customers’ deposits decreased 2% driven primarily by a domestic CASA outflow, moderating the CASA ratio to 72.2% Customers' Deposits (SARbn) Customers' Deposits Movement YoY (SARbn) -2% 590.1 634.2 590.1 579.8 21.8 0.5 579.8 31 22 31 120 154 130 (2.8) (29.8) 448 449 419 -7% +17%
Slide 10: Income Statement Summary
Income Statement Summary Net income growth driven by higher domestic operating revenue and partially offset by higher operating expenses including impairments Net Income Attributed To Equity Holders Movement YoY (SARmn) Net Income (SARmn) 5,366 5,557 4,963 +6% +9% 5,387 5,615 4,998 +4% QoQ 1,283 1,6
Slide 11: NSCI & Margin
NSCI & Margin YoY NSCI increased 3% on asset growth, while NSCI Margin was pressured by International; QoQ Margin stabilized on faster CoF repricing 1 Net Special Commission Income Movement YoY (SARbn) NSCI Margin QTR (%) +3% 3.09% 3.08% 3.10% +6% 3.0 1.5 3.08% 27.0 2.2 0.7 27.7 3.07% 25.4 27.0 3.03
Slide 12: Fee & Other Income
Fee & Other Income Fee and other income experienced strong growth, driven by domestic banking service fees and investment-related income Fee & Other Income Movement YoY (SARmn) Fee & Other Income (SARmn) +10% 2,330 2,084 +21% 8,308 326 967 1,752 7,580 723 7,341 302 6,058 710 61 147 (211) 1,523 2,004
Slide 13: Operating Expenses
Operating Expenses Operating expenses increased 7% YoY driven mainly by depreciation and general and administrative expenses 1 1 Total Operating Expenses, Excl Intangibles Amortization Movement YoY (SARmn) Operating Expenses (SARmn) +7% 2,664 2,548 2,340 +8% 370 420 10,217 392 9,537 1,496 8,074 130
Slide 14: Financing Credit Impairments & Cost of Risk
Financing Credit Impairments & Cost of Risk Cost of Risk stable at 16bps as higher retail impairments were partially offset by a lower international charge 1 Impairment Charge For Financing And Advances Losses Movement Cost of Risk YTD (%) 2024 Guidance 15 to 25 bps YoY (SARmn) 0.43% 0.42% +14% 0.27
Slide 15: Credit Quality
Credit Quality Asset quality remains stable, with stage-wise coverage updated through the reallocation of provisions Credit Impaired Financing Movement YoY (SARbn) NPL Ratio (%) 1.21% 1 2.5 10.1 1.16% 1.17% 1.12% 1.13% 1.11% 1.13% +5% 0.5 1.09% 1.09% 0.0 7.7 1.08% 7.4 (0.2) 4Q 23 1Q 24 2Q 24 3Q 24 4
Slide 16: Capitalization & Liquidity
Capitalization & Liquidity Capitalization improved as Tier 1 CAR surpassed 20%, supported by a SAR 6 billion AT1 Sukuk issuance and profit generation Capitalization Ratios (%) 2024 Guidance Total Eligible Capital Movement YoY (SARbn) T1 CAR: 18–19% 20.0% +11% 19.3% 19.4% 20.8% 20.1% 19.2% 20.3% 21.2
Slide 17: Ambitious targets set for 2025, marking the launch of the new strategy
Outlook & Guidance Ambitious targets set for 2025, marking the launch of the new strategy Macro-Economic FY 2024 FY 20252 SNB Financial Guidance FY 2024 Baseline FY 2025 Guidance Outlook1 SAR 654bn Real GDP Growth +1.2% +3.6% Financing Growth Low double digit +9% SAR 27.7bn Mid-to-high single NSCI G
Slide 18: Questions & Answers
Questions & Answers 4Q 2024 SNB | 4Q 2024 | Earnings Presentation
Slide 19: Additional Information
Additional Information Write to Us The Saudi National Bank Tower, Unit No. 778 Email Us King Abdullah Financial District ir@alahli.com 3208, Al Aqeeq District, King Fahad Road Riyadh, Kingdom Of Saudi Arabia, 13519 - 6676 Visit our website alahli.com Access SNB’s current and previous Investor Disclo