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APR
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Announces Results of the 26th Ordinary General Assembly (1st Meeting) Held Remotely Thru Modern Technology Means

Arab National Bank is pleased to announce results of the 26th Ordinary General Assembly (1st Meeting) which was convened at 6.30 pm on Tuesday, 17 Shab’an 1442 H (30 March 2021). The attendance percentage reached (  75.139 %), it being understood that attendance was thru means of modern technology i.e. electronic voting. Results of voting on meeting agenda items were as follows: Note that the results of the vote count of the association are available at the bank (shareholders management) and any shareholder has the right to request and review the minutes

1.Approved Management’s Report on Bank operations for the fiscal year ended 31-12-2020.

2.Approved the bank’s financial statements as of 31/12/2020

3.Approved the Auditor’s Report for the fiscal year ended 31-12-2020

4.Approved discharge of Board of Directors members for the fiscal year ended 31-12-2020

5.Approved the Board of Directors’ recommendation to distribute a cash dividend of SAR 0.40 per share for fiscal year 2020, totaling SAR 600 M, or 4% of the Share Par Value. The eligibility shall be for the shareholders who own the shares at the close of the market on ANB’s General Assembly Meeting day, and who are registered in ANB’s shareholders’ record at the Securities Depository Center (Edaa) on end of the second trading day following the Eligibility Date. Distribution of the cash dividends will start on 12/04/2021.

6.Approved updation of the Audit Committee’s Terms of Reference.

7.Approved disbursement of (SR 4,860,245) as bonus payment to Board members against fiscal year ended 31/12/2020.

8.Approved appointment of auditor(s) of bank accounts from among the candidates based on the recommendation of the audit committee to examine, review and audit the financial statements for the first, second and third quarters and the consolidated annual financial statements of the fiscal year 2021 AD, and the first quarter of the fiscal year 2022 AD, and determine their fees. The auditor(s) are::

  • Ernst & Young (EY)
  • Al Fozan & Partners (KPMG)

9.Approved delegation of the Ordinary General Assembly’s authority relating to the authorization power vested in the Assembly under Para 1, Article 71 of the Companies Law, to the board of directors for a period of one year starting from the Ordinary General Assembly’s approval date or the end date of the authorized board of directors’ term, whichever occurs earlier, in line with the terms cited under the organizational controls and procedures issued in implementation of the Companies Law which deals with publically listed joint stock companies.

10.Approved the contracts and business dealings between the bank and Takamul Business Services Company (a wholly government owned company and sole operator of Nafith Platform) under the scope of Related Party transactions considering that Mr. Ahmed Mohammed Al Omran (anb board member) also serves as a board member on the afore-mentioned Company’s board of directors (There are no amounts during the year).

11.Approved contracts and business dealings between the bank and Alrashid Trading and Contracting Company Ltd., in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to rent of a branch at Alrashid Complex in Alkhobar in the ordinary course of business on no preferential conditions. Contract Term: Annual. Lease Amount: SR 799,006. Contract Expiry Date: 04/09/2021, renewable annually. The Complex applies a “Rent per Square Meter” Policy. The Rent Price is SR 1,216 per square meter.

12.Approved contracts and business dealings between the bank and Al Jabr Investment and Real Estate Company in which Board Member, Mr. Hesham Abdullatif Aljabr, has an indirect interest, relating to Jubail (Downtown) Branch site rental in the ordinary course of business on no preferential conditions. Contract Value: SR 788,000. Contract Expiry Date: 31/05/2021.

13.Approved contracts and business dealings between the bank and Al Jabr Investment and Real Estate Company, in which Board Member, Mr. Hesham Abdullatif Aljabr, has an indirect interest, relating to Almebrez Branch/Alahsa site rental in the ordinary course of business on no preferential conditions. Contract Value: SR 240,000. Contract Expiry Date: 31/08/2021.

14.Approved contracts and business dealings between the bank and Alrashid Trading and Contracting Company Ltd., in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to rent of space for 5 ATM sites in the ordinary course of business on no preferential conditions. Contract Term: annual. Total Lease Amount: SR 241,041. Contract Expiry Date: 20/08/2021, renewable annually.

15.Approved contracts and business dealings between the bank and Rashid Abdulrahman Alrashid and Sons Company, in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest relating to rent of an ATM site located at Takhassusi Road/Telecommunications Complex, in the ordinary course of business on no preferential conditions. Contract Term: 5 years. Annual Lease Amount: SR 45,000. Contract Expiry Date: 30/04/2023, renewable annually.

16.Approved contracts and business dealings between the bank and Al Jabr Investment and Real Estate Company, in which Board Member, Mr. Hesham Abdullatif Aljabr, has an indirect interest, relating to rent of an ATM site opposite to Aljabr Refreshments Factory at Almebrez, Oyoun Road in the ordinary course of business on no preferential conditions. Annual rent: SR 48,000. Contract Expiry Date: 30/06/2021.

17.Approved contracts and business dealings between the bank and Abana Projects Group Company, in which Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to maintenance charges and purchase cost of cash counting machines for the branches and head office (purchase to be conducted on “as needed basis” on competitive prices and specifications) in the ordinary course of business on no preferential conditions. Total amount of business dealings with the company in 2020: SR 2,125,000, renewable annually.

18.Approved contracts and business dealings between the bank and Alkhaleej Training and Education Company, in which Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to manpower supply agreement (labor services) in the ordinary course of business on no preferential conditions, on annual contract basis. Total value of business dealings in 2020: SR 28,952,000 (contract amount dependent on numbers and quality of manpower provided).

19.Approved contracts and business dealings between the bank and Riyadh Business Gate Company in which the CEO of Arab National Bank Invest Company (ANB Invest), Mr. Bassam Rashid Al Mubarak, has a direct interest, being rental of a bank branch site at the Business Gate in the ordinary course of business on no preferential conditions. Contract Term: 5 years. Annual Rental: SR 759,000. Contract Expiry Date: 30/09/2022.

20.Approved contracts and business dealings between the bank and the Saudi Financial Support Services Company (SANID) in which the Head of Retail Bank, Mr. Fahad A. Al-Kadi, has an indirect interest, as SANID’s Board Chairman, relating to cash pickup and delivery. Dealings are conducted on “as needed basis” in the ordinary course of business on no preferential conditions. Contract Term: one year expiring on 31/10/2020, renewable automatically. Total amount of business dealings with the company in 2020: SR 15,890,000.

21.Approved contracts and business dealings between the bank and Al Jabr Holding Group in which Board Member, Mr. Hesham Abdullatif Aljabr, has both a direct and indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 2,027,519,000. Facility line extended in the ordinary course of business on no preferential conditions.

22.Approved contracts and business dealings between the bank and Astra Group in which the Board Chairman of Arab Bank plc/Jordan (foreign partner), Mr. Sabeeh Al Masri, has an indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 1,256,398,000. Facility line extended in the ordinary course of business on no preferential conditions.

23.Approved contracts and business dealings between the bank and Al Touk Group in which the Board Member, Mr. Abdul Mohsen Ibrahim Al Touk, has an indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 234,248,000. Facility line extended in the ordinary course of business on no preferential conditions.

24.Approved contracts and business dealings between the bank and Salah Rashid Alrashid Group in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 4,098,246,000. Facility line extended in the ordinary course of business on no preferential conditions.

25.Approved contracts and business dealings between the bank and the Heirs of Homoud Alobaid Al Rasheed as Mrs. Maha (d/o) Homoud Obaid Al Rasheed and Spouse of Chief Executive Officer, Mr. Obaid A. Al Rasheed (Related Party), holds a share of the property being rental of a site for Dhabab Branch in the ordinary course of business on no preferential conditions. Contract Term: 5 years. Annual Rent: SR 475,000. Contract Expiry: 30/04/2024.

26.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Marine Shipping Insurance Policy (Policy Term: 1 year starting on 01/04/2020 and ending on 31/03/2021; overall insurance premium: SR 369,947) in the ordinary course of business on no preferential conditions.

27.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Private Auto Fleet Insurance Policy (Policy Term: 1 year starting on 01/04/2020 and ending on 31/03/2021; overall insurance premium: SR 23,231 in the ordinary course of business on no preferential conditions.

28.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Commercial Fleet Insurance Policy (Policy Term: 1 year starting on 01/04/2020 and ending on 31/03/2021; overall insurance premium: SR 140,096 in the ordinary course of business on no preferential conditions.

29.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Property All Risk Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 672,157 in the ordinary course of business on no preferential conditions.

30.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Property Terrorism Risk Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 153,010 in the ordinary course of business on no preferential conditions.

31.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Directors and Staff Liability Insurance Policy (Policy Term: 1 week starting on 01/07/2020 and ending on 07/07/2020; overall insurance premium: SR 11,905 in the ordinary course of business on no preferential conditions.

32.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Directors and Staff Liability Risk Insurance Policy (Policy Term: 1 year starting on 08/07/2020 and ending on 07/07/2021; overall insurance premium: SR 663,000 in the ordinary course of business on no preferential conditions.

33.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Third Party Liability Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 34,025 in the ordinary course of business on no preferential conditions.

34.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Employee Group Life Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 1,451,789 in the ordinary course of business on no preferential conditions.

35.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Mortgage Credit Insurance Policy based on number of housing loans as on period end (Policy Term: 1 year starting on 01/10/2020 and ending on 30/09/2021; overall insurance premium: SR 4,545,847 in the ordinary course of business on no preferential conditions.

36.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Consumer Auto Financial Lease Fleet Insurance Policy (on monthly basis covering auto financial lease loans portfolio)(Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 23,624,751 in the ordinary course of business on no preferential conditions.

Arab National Bank is pleased to announce results of the 26th Ordinary General Assembly (1st Meeting) which was convened at 6.30 pm on Tuesday, 17 Shab’an 1442 H (30 March 2021). The attendance percentage reached (  75.139 %), it being understood that attendance was thru means of modern technology i.e. electronic voting. Results of voting on meeting agenda items were as follows: Note that the results of the vote count of the association are available at the bank (shareholders management) and any shareholder has the right to request and review the minutes

1.Approved Management’s Report on Bank operations for the fiscal year ended 31-12-2020.

2.Approved the bank’s financial statements as of 31/12/2020

3.Approved the Auditor’s Report for the fiscal year ended 31-12-2020

4.Approved discharge of Board of Directors members for the fiscal year ended 31-12-2020

5.Approved the Board of Directors’ recommendation to distribute a cash dividend of SAR 0.40 per share for fiscal year 2020, totaling SAR 600 M, or 4% of the Share Par Value. The eligibility shall be for the shareholders who own the shares at the close of the market on ANB’s General Assembly Meeting day, and who are registered in ANB’s shareholders’ record at the Securities Depository Center (Edaa) on end of the second trading day following the Eligibility Date. Distribution of the cash dividends will start on 12/04/2021.

6.Approved updation of the Audit Committee’s Terms of Reference.

7.Approved disbursement of (SR 4,860,245) as bonus payment to Board members against fiscal year ended 31/12/2020.

8.Approved appointment of auditor(s) of bank accounts from among the candidates based on the recommendation of the audit committee to examine, review and audit the financial statements for the first, second and third quarters and the consolidated annual financial statements of the fiscal year 2021 AD, and the first quarter of the fiscal year 2022 AD, and determine their fees. The auditor(s) are::

  • Ernst & Young (EY)
  • Al Fozan & Partners (KPMG)

9.Approved delegation of the Ordinary General Assembly’s authority relating to the authorization power vested in the Assembly under Para 1, Article 71 of the Companies Law, to the board of directors for a period of one year starting from the Ordinary General Assembly’s approval date or the end date of the authorized board of directors’ term, whichever occurs earlier, in line with the terms cited under the organizational controls and procedures issued in implementation of the Companies Law which deals with publically listed joint stock companies.

10.Approved the contracts and business dealings between the bank and Takamul Business Services Company (a wholly government owned company and sole operator of Nafith Platform) under the scope of Related Party transactions considering that Mr. Ahmed Mohammed Al Omran (anb board member) also serves as a board member on the afore-mentioned Company’s board of directors (There are no amounts during the year).

11.Approved contracts and business dealings between the bank and Alrashid Trading and Contracting Company Ltd., in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to rent of a branch at Alrashid Complex in Alkhobar in the ordinary course of business on no preferential conditions. Contract Term: Annual. Lease Amount: SR 799,006. Contract Expiry Date: 04/09/2021, renewable annually. The Complex applies a “Rent per Square Meter” Policy. The Rent Price is SR 1,216 per square meter.

12.Approved contracts and business dealings between the bank and Al Jabr Investment and Real Estate Company in which Board Member, Mr. Hesham Abdullatif Aljabr, has an indirect interest, relating to Jubail (Downtown) Branch site rental in the ordinary course of business on no preferential conditions. Contract Value: SR 788,000. Contract Expiry Date: 31/05/2021.

13.Approved contracts and business dealings between the bank and Al Jabr Investment and Real Estate Company, in which Board Member, Mr. Hesham Abdullatif Aljabr, has an indirect interest, relating to Almebrez Branch/Alahsa site rental in the ordinary course of business on no preferential conditions. Contract Value: SR 240,000. Contract Expiry Date: 31/08/2021.

14.Approved contracts and business dealings between the bank and Alrashid Trading and Contracting Company Ltd., in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to rent of space for 5 ATM sites in the ordinary course of business on no preferential conditions. Contract Term: annual. Total Lease Amount: SR 241,041. Contract Expiry Date: 20/08/2021, renewable annually.

15.Approved contracts and business dealings between the bank and Rashid Abdulrahman Alrashid and Sons Company, in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest relating to rent of an ATM site located at Takhassusi Road/Telecommunications Complex, in the ordinary course of business on no preferential conditions. Contract Term: 5 years. Annual Lease Amount: SR 45,000. Contract Expiry Date: 30/04/2023, renewable annually.

16.Approved contracts and business dealings between the bank and Al Jabr Investment and Real Estate Company, in which Board Member, Mr. Hesham Abdullatif Aljabr, has an indirect interest, relating to rent of an ATM site opposite to Aljabr Refreshments Factory at Almebrez, Oyoun Road in the ordinary course of business on no preferential conditions. Annual rent: SR 48,000. Contract Expiry Date: 30/06/2021.

17.Approved contracts and business dealings between the bank and Abana Projects Group Company, in which Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to maintenance charges and purchase cost of cash counting machines for the branches and head office (purchase to be conducted on “as needed basis” on competitive prices and specifications) in the ordinary course of business on no preferential conditions. Total amount of business dealings with the company in 2020: SR 2,125,000, renewable annually.

18.Approved contracts and business dealings between the bank and Alkhaleej Training and Education Company, in which Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to manpower supply agreement (labor services) in the ordinary course of business on no preferential conditions, on annual contract basis. Total value of business dealings in 2020: SR 28,952,000 (contract amount dependent on numbers and quality of manpower provided).

19.Approved contracts and business dealings between the bank and Riyadh Business Gate Company in which the CEO of Arab National Bank Invest Company (ANB Invest), Mr. Bassam Rashid Al Mubarak, has a direct interest, being rental of a bank branch site at the Business Gate in the ordinary course of business on no preferential conditions. Contract Term: 5 years. Annual Rental: SR 759,000. Contract Expiry Date: 30/09/2022.

20.Approved contracts and business dealings between the bank and the Saudi Financial Support Services Company (SANID) in which the Head of Retail Bank, Mr. Fahad A. Al-Kadi, has an indirect interest, as SANID’s Board Chairman, relating to cash pickup and delivery. Dealings are conducted on “as needed basis” in the ordinary course of business on no preferential conditions. Contract Term: one year expiring on 31/10/2020, renewable automatically. Total amount of business dealings with the company in 2020: SR 15,890,000.

21.Approved contracts and business dealings between the bank and Al Jabr Holding Group in which Board Member, Mr. Hesham Abdullatif Aljabr, has both a direct and indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 2,027,519,000. Facility line extended in the ordinary course of business on no preferential conditions.

22.Approved contracts and business dealings between the bank and Astra Group in which the Board Chairman of Arab Bank plc/Jordan (foreign partner), Mr. Sabeeh Al Masri, has an indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 1,256,398,000. Facility line extended in the ordinary course of business on no preferential conditions.

23.Approved contracts and business dealings between the bank and Al Touk Group in which the Board Member, Mr. Abdul Mohsen Ibrahim Al Touk, has an indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 234,248,000. Facility line extended in the ordinary course of business on no preferential conditions.

24.Approved contracts and business dealings between the bank and Salah Rashid Alrashid Group in which the Board Chairman, Mr. Salah Rashid Alrashid, has an indirect interest, relating to credit facilities which are subject to controls cited under the Banking Control Law and Saudi Central Bank’s guidelines (as stated in the bank’s annual report for 2020). The total amount of facilities extended for 2020 was SR 4,098,246,000. Facility line extended in the ordinary course of business on no preferential conditions.

25.Approved contracts and business dealings between the bank and the Heirs of Homoud Alobaid Al Rasheed as Mrs. Maha (d/o) Homoud Obaid Al Rasheed and Spouse of Chief Executive Officer, Mr. Obaid A. Al Rasheed (Related Party), holds a share of the property being rental of a site for Dhabab Branch in the ordinary course of business on no preferential conditions. Contract Term: 5 years. Annual Rent: SR 475,000. Contract Expiry: 30/04/2024.

26.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Marine Shipping Insurance Policy (Policy Term: 1 year starting on 01/04/2020 and ending on 31/03/2021; overall insurance premium: SR 369,947) in the ordinary course of business on no preferential conditions.

27.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Private Auto Fleet Insurance Policy (Policy Term: 1 year starting on 01/04/2020 and ending on 31/03/2021; overall insurance premium: SR 23,231 in the ordinary course of business on no preferential conditions.

28.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Commercial Fleet Insurance Policy (Policy Term: 1 year starting on 01/04/2020 and ending on 31/03/2021; overall insurance premium: SR 140,096 in the ordinary course of business on no preferential conditions.

29.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Property All Risk Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 672,157 in the ordinary course of business on no preferential conditions.

30.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Property Terrorism Risk Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 153,010 in the ordinary course of business on no preferential conditions.

31.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Directors and Staff Liability Insurance Policy (Policy Term: 1 week starting on 01/07/2020 and ending on 07/07/2020; overall insurance premium: SR 11,905 in the ordinary course of business on no preferential conditions.

32.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Directors and Staff Liability Risk Insurance Policy (Policy Term: 1 year starting on 08/07/2020 and ending on 07/07/2021; overall insurance premium: SR 663,000 in the ordinary course of business on no preferential conditions.

33.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Third Party Liability Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 34,025 in the ordinary course of business on no preferential conditions.

34.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Employee Group Life Insurance Policy (Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 1,451,789 in the ordinary course of business on no preferential conditions.

35.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Mortgage Credit Insurance Policy based on number of housing loans as on period end (Policy Term: 1 year starting on 01/10/2020 and ending on 30/09/2021; overall insurance premium: SR 4,545,847 in the ordinary course of business on no preferential conditions.

36.Approved contracts and business dealings between the bank and Walaa Cooperative Insurance Company in which Board Member, Mr. Hesham Abdullaif Aljabr, has an indirect interest considering that he represents the bank on the board of directors of Walaa Cooperative Insurance Company, relating to renewal of Consumer Auto Financial Lease Fleet Insurance Policy (on monthly basis covering auto financial lease loans portfolio)(Policy Term: 1 year starting on 01/06/2020 and ending on 31/05/2021; overall insurance premium: SR 23,624,751 in the ordinary course of business on no preferential conditions.

Posted on 4/1/2021
MAR
04
ANB’s board of directors recommends distribution of cash dividends of SAR 600 M for fiscal year 2020

Arab National Bank announces the BOD’s recommendation to distribute dividends to shareholders for the year 2020

Date of the board’s decision  13-07-1442 Corresponding 04-03-2021

The Total amount distributed SAR 600,000,000 Millions

Number of shares Eligible for Dividend   1.500.000.000 shares

Dividend per share SAR 0.40 after deduction of Zakat

Percentage of Dividend to the Share Par Value ( 4 %)

Eligibility date: The eligibility of the dividends shall be at the end of trading day of ARB’s General Assembly meeting day (which will be announced at a later date) for the shareholders registered in Depository Center at the end of the second trading day following the General Assembly Meeting date

 

Distribution Date   : Details of dividends distribution dates and process will be announced later

Additional Information: We would like to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing regulation

Arab National Bank announces the BOD’s recommendation to distribute dividends to shareholders for the year 2020

Date of the board’s decision  13-07-1442 Corresponding 04-03-2021

The Total amount distributed SAR 600,000,000 Millions

Number of shares Eligible for Dividend   1.500.000.000 shares

Dividend per share SAR 0.40 after deduction of Zakat

Percentage of Dividend to the Share Par Value ( 4 %)

Eligibility date: The eligibility of the dividends shall be at the end of trading day of ARB’s General Assembly meeting day (which will be announced at a later date) for the shareholders registered in Depository Center at the end of the second trading day following the General Assembly Meeting date

 

Distribution Date   : Details of dividends distribution dates and process will be announced later

Additional Information: We would like to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing regulation

Posted on 3/4/2021
FEB
28
Arab National Bank reports net profit before zakat and income tax of USD 686 million for 2020

Arab National Bank (ANB or the Bank) reported a net profit before zakat and income tax of USD 686 million for 2020 compared to USD 947 million in 2019, representing a decrease of 27.6%.

ANB total operating income reached USD 1,553 million compared to USD 1,795 million for the same period last year, decrease of 13.5%, whereas net special commission income reached USD 1,298 million against USD 1,481 million for the same period last year, a decrease of 12.3%.

Net profit after zakat and income tax reached USD 553 million compared to USD 806 million last year.

 By the end of 2020, assets reached USD 48.1 billion compared to USD 48.9 billion for the same period last year, and investments reached USD 11.7 billion compared to USD 10.1 billion last year an increase of 15.1%, while the loans portfolio reached USD 30.2 billion against USD 31.7 billion for the same period last year, a decrease of 4.6%  and customers’ deposits reached USD 34.5 billion compared to 37.9 for the same period last year.

Engineer Salah R. Al-Rashed, Board Chairman, stated, “Despite severity of the pandemic, the bank managed to deliver satisfactory results. Protection of the health and safety of our customers and employees alike ranked high on our list of priorities, while focusing on enhancing digital services to ensure continuity of work remotely, and uninterrupted offering of products and services anytime, anywhere thru various delivery channels”.

Al-Rashed added, “The bank actively participated in all initiatives adopted by the Custodian of the Two Holy Mosques government to alleviate damages to individuals and corporations, particularly SMEs. To this end, ANB launched diverse initiatives and activities in the context of its social responsibility”.

Al-Rashed expressed his appreciation and gratitude to the bank customers for their unwavering confidence, and commended the exceptional efforts of bank employees.    

Arab National Bank (ANB or the Bank) reported a net profit before zakat and income tax of USD 686 million for 2020 compared to USD 947 million in 2019, representing a decrease of 27.6%.

ANB total operating income reached USD 1,553 million compared to USD 1,795 million for the same period last year, decrease of 13.5%, whereas net special commission income reached USD 1,298 million against USD 1,481 million for the same period last year, a decrease of 12.3%.

Net profit after zakat and income tax reached USD 553 million compared to USD 806 million last year.

 By the end of 2020, assets reached USD 48.1 billion compared to USD 48.9 billion for the same period last year, and investments reached USD 11.7 billion compared to USD 10.1 billion last year an increase of 15.1%, while the loans portfolio reached USD 30.2 billion against USD 31.7 billion for the same period last year, a decrease of 4.6%  and customers’ deposits reached USD 34.5 billion compared to 37.9 for the same period last year.

Engineer Salah R. Al-Rashed, Board Chairman, stated, “Despite severity of the pandemic, the bank managed to deliver satisfactory results. Protection of the health and safety of our customers and employees alike ranked high on our list of priorities, while focusing on enhancing digital services to ensure continuity of work remotely, and uninterrupted offering of products and services anytime, anywhere thru various delivery channels”.

Al-Rashed added, “The bank actively participated in all initiatives adopted by the Custodian of the Two Holy Mosques government to alleviate damages to individuals and corporations, particularly SMEs. To this end, ANB launched diverse initiatives and activities in the context of its social responsibility”.

Al-Rashed expressed his appreciation and gratitude to the bank customers for their unwavering confidence, and commended the exceptional efforts of bank employees.    

Posted on 2/28/2021
JAN
11
ANB co-sponsors the "Revival of the Historic Zubaidah Trail" festival

ANB participates in sponsoring the "Revival of the Historic Zubaidah Trail" festival, launched on Monday 4/1/2021 in Hail, under the patronage of the region's governor, His Royal Highness Prince Abdulaziz bin Saad bin Abdulaziz. The event will last for 16 days, with the participation of a number of hiking and archeology fans who will travel a distance of 420 km.

The bank’s initiative is part of its support for social and cultural activities that highlight the Kingdom’s history and heritage.

Zubaidah Trail, named after Zubaidah bint Ja’far, wife of Abbasid Caliph Harun Al-Rashid, is a landmark that has played a prominent religious, economic and social role.

ANB participates in sponsoring the "Revival of the Historic Zubaidah Trail" festival, launched on Monday 4/1/2021 in Hail, under the patronage of the region's governor, His Royal Highness Prince Abdulaziz bin Saad bin Abdulaziz. The event will last for 16 days, with the participation of a number of hiking and archeology fans who will travel a distance of 420 km.

The bank’s initiative is part of its support for social and cultural activities that highlight the Kingdom’s history and heritage.

Zubaidah Trail, named after Zubaidah bint Ja’far, wife of Abbasid Caliph Harun Al-Rashid, is a landmark that has played a prominent religious, economic and social role.

Posted on 1/11/2021
JAN
04
ANB and Monsha’at sign financing agreement

Arab National Bank and Monsha'at have entered into an agreement that will enable, small and medium enterprises (SMEs) to obtain financing from ANB via Monsha’at’s dedicated Financing Gateway page at Monsha’at website. 

The agreement was signed by the Deputy Governor of "Monshaat" Mr. Muhammad bin Misfer Al-Maliki, and the Head of Small and Medium Enterprises Division at ANB, Mr. Khaled Abdulaziz Al-Rashed.

Speaking about the agreement, Deputy CEO of ANB, Mr. Obaid Al Rasheed mentioned that this agreement is part of the bank’s continuous efforts to cooperate with various government authorities in order to support and fulfill the financial needs of SMEs, being one of the economic pillars of the Kingdom’s 2030 vision. 

It is worth mentioning that Monshaat is working with its partners from all sectors to diversify sources of financial support for SMEs, in order to increase their contribution in the GDP to 35% by 2030.

Arab National Bank and Monsha'at have entered into an agreement that will enable, small and medium enterprises (SMEs) to obtain financing from ANB via Monsha’at’s dedicated Financing Gateway page at Monsha’at website. 

The agreement was signed by the Deputy Governor of "Monshaat" Mr. Muhammad bin Misfer Al-Maliki, and the Head of Small and Medium Enterprises Division at ANB, Mr. Khaled Abdulaziz Al-Rashed.

Speaking about the agreement, Deputy CEO of ANB, Mr. Obaid Al Rasheed mentioned that this agreement is part of the bank’s continuous efforts to cooperate with various government authorities in order to support and fulfill the financial needs of SMEs, being one of the economic pillars of the Kingdom’s 2030 vision. 

It is worth mentioning that Monshaat is working with its partners from all sectors to diversify sources of financial support for SMEs, in order to increase their contribution in the GDP to 35% by 2030.

Posted on 1/4/2021
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