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Saudi- Arab National Bank posts $ 519 m net profit in 9 months  Join our daily free Newsletter

MENAFN - Arab News - 11/10/2012

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(MENAFN - Arab News) Arab National Bank (ANB) reported a net profit of 519 million for the first nine months of 2012, compared to 481 million for the same period last year, an increase of 7.9 percent.

Profits of the third quarter of 2012 reached 152.7 million compared to 138.4 million for the same period last year, representing an increase of 10.3 percent.

ANB total operating income for the first nine months of 2012 reached 970.3 million compared to 911.6 million for the same period last year, an increase of 6.4 percent.

Assets as of Sept. 30 reached 33.4 billion, and investments reached 7.1 billion, while the loans portfolio reached 22.3 billion and customer deposits reached 26.2 billion.

ANB's CEO Robert Eid stated that such good results reflect the strength of the banking sector and the benign economic environment as well as the bank's continued focus on achieving sustainable growth alongside a conservative credit culture.

 






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