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ANB net profit up 3.2% in H1

24/07/2017 05:45 AST

Arab National Bank reported a net profit of $431.2 million for the first six months of 2017, compared to $417.9 million for the same period last year, an increase of 3.2%.

Profits of the second quarter of 2017 reached $226.4 million compared to $218.1 million for the same period last year.

ANB total operating income for the first six months of 2017 reached $831.1 million compared to $790.6 million for the same period last year, an increase of 5.1%.

Assets as of June 30, 2017 reached $45.6 billion, and investments reached $6.6 billion, while the loans portfolio reached $30.6 billion and Customer deposits reached $34.9 billion.

Commenting on the Bank's results, 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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