ANB announces net profit of $204.8m in Q1
CEO ANB Robert Eid
Jeddah - Arab Today
Arab National Bank has reported a net profit of $204.8 million for the first quarter of 2017 compared to $199.8 million for the same period last year — an increase of 2.5 percent. The bank’s total operating income for the first quarter of 2017 reached $394.8 million compared to $385.9 million for the same period last year — an increase of 2.3 percent.
Earnings per share for the first three months reached $0.21 compared to $0.20 for the same period last year. ANB assets on March 31 reached $44.9 billion against $44.4 billion for the same period last year representing an increase of 1.1 percent. Investments reached $6.7 billion compared to $6.3 billion for the same period last year, while the loans portfolio reached $30.9 billion and customer deposits reached $35.2 billion.
Robert Eid, managing director and CEO, said: “The increase in the bank’s profits resulted principally from balanced growth in various business lines, and its conservative risk management culture.”
Source: Arab News
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