Arab National Bank (ANB) 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.

Robert Eid, ANB CEO, stated: “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.”