RIYADH: Arab National Bank (ANB) reported a net profit of $199.8 million for the first quarter of 2016 compared to $205.5 million for the same period last year, a decrease of 2.8 percent and total operating income for the first quarter of 2016 reached $393.4 million compared to $400.9 million for the same period last year, a decrease of 1.9 percent.

Earnings per share for the first three months reached $0.20 compared to $0.21 for the same period last year.

ANB assets at March 31, 2016 reached $44.4 billion against $43.9 billion for the same period last year representing an increase of 1.1 percent.

Investments reached $ 6,3 billion compared to $9 billion for the same period last year representing a decrease of 29.4 percent, while the loans portfolio reached $30,9 billion against $29 billion for the same period last year representing an increase of 6.6 percent. Customer deposits reached $35.2 billion against 35 billion for the same period last year representing an increase of 0.6 percent.

The bank attributed the drop due to lower total operating income, offset by the increase in gains from non-trading investments and other operating income.