Published: Jul 10, 2014
Source: Saudi Gazette

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ANB net profit up 7.3% in H1

ARAB National Bank reported a net profit of $400 million for the first six months of 2014, compared to $372.4 million for the same period last year, an increase of 7.3 percent.

Profits of the second quarter of 2014 reached $209.4 million compared to $191.5 million for the same period last year.

ANB total operating income for the first six months of 2014 reached $718.5 million compared to $675.1 million for the same period last year, an increase of 6.4 percent. Assets as of June 30, 2014 reached $38 billion, and investments reached $8.8 billion, while the loans portfolio reached $24.5 billion and Customer deposits reached $29.1 billion.

Dr. Robert Eid, ANB Chief Executive Officer, said 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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