Wednesday 26, April 2017 by Nabilah Annuar

ANB records a net profit of USD 204.8 million in the first quarter of 2017

Arab National Bank 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.

 

Arab National Bank 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 per cent and 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 per cent.

 

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.”

 

Earnings per share for the first three months reached $0.21 compared to $0.20 for the same period last year. ANB assets at 31 March 2017 reached $44.9 billion against $44.4 billion for the same period last year representing an increase of 1.1 per cent. 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.

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