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ANB net profit grows 4.5% in 9 months

26/10/2017 05:35 AST

Arab National Bank (ANB) reported a net profit of $638 million for the first nine months of 2017, compared to $610 million for the same period last year, an increase of 4.5%.

Profits of the third quarter of 2017 reached $206.8 million compared to $192.4 million for the same period last year, representing an increase of 7.5%.

ANB total operating income for the first nine months of 2017 reached $1,278 million compared to $1,189 million for the same period last year, an increase of 7.5%.

Assets as of September 30, 2017 reached $43.6 billion, and investments reached $6.9 billion, while the loans portfolio reached $30.9 billion and customers' deposits reached $34.3 billion.

Dr. Robert Eid, Managing Director and Chief Executive Officer, said "the increase in the Bank's profits resulted principally from balanced growth in various business lines, and its conservative risk management culture."

Saudi Gazette

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