arab national bank (anb or the Bank) reported a record net income after zakat and income tax of SAR 3,070 million in 2022, in comparison to SAR 2,177 million in 2021 resulting in an increase of 41%.
Mr. Obaid Alrasheed, Managing Director and CEO, said: “The Bank has achieved remarkable growth across its various business lines and managed its operations in a balanced and highly efficient manner, and continued to enhance its investments in digital transformation, allowing the Bank to provide its customers with innovative banking solutions, while further investing in human capital to enrich its customers’ experience and ensure its dedication to excellence and efficiency to reach new heights and further solidify its competitive advantages.”
According to Alrasheed, the Bank's positive results in 2022 were primarily attributed to the increase in the financing and lending portfolios by 13.5% compared to last year, while deposits grew by 14.1% supported by healthy liquidity ratios, as well as remarkable growth in the corporate financing portfolio by 9.4%, and retail portfolio by 23.8% mainly driven by private banking financing and mortgage financing activities, whereas SMEs' direct and indirect financing portfolio reached to SAR 19.1 billion by the end of 2022.
Alrasheed expressed his pride in anb’s impressive results, the improved quality of services, the significant expansion of its business, and the heightened level of achievements that were acknowledged internationally and regionally through prestigious awards, including the “Best Developed Financing Provider” award from Sakani Housing Program, the Finnovex “Best Digital Bank Award” from the Best Mobile Banking App category in the Kingdom of Saudi Arabia, and the Out Systems Innovation Award, it was also nominated by International Business Magazine as “the Best SME Banking in the Kingdom of Saudi Arabia in 2022”, reflecting the effective strategy that anb adopted since 2021. 
Alrasheed further commented that the positive results and growth indicators are intrinsically linked to the Bank’s active contribution to the initiatives of Saudi Vision 2030, which focuses on achieving comprehensive and sustainable development in Saudi Arabia and improving the productivity and competitiveness of the leading national enterprises, further to the Bank’s ‎dedication to Corporate Social Responsibility through its contribution to numerous ‎socially oriented national initiatives and programs which had a further positive impact. 
anb recorded a 20.6% increase in net special commission income, driven by the rise in interest rates and increase from the bank’s operations, Alrasheed added. 

Despite the increase in operating expenses by 11.6% during 2022 due to the increase in salaries and training related expenses to cope with the ongoing changes and improvements across the Bank's internal work environment, net operating income grew by 19%, and earnings per share increased from SAR 1.45 in 2021 to SAR 2.05 in 2022.
These indicators resulted in increases in shareholders equity by 4.0%, and total assets of 10.5%.
Alrasheed expressed his utmost gratitude and appreciation to the Bank’s management and employees for their dedication and hard work in accomplishing the Bank's goals and achieving its strategic ambitions, to anb clients for their continued trust and loyalty, as well as the Saudi Central Bank for its support for the banking and financial sector in the Kingdom.