RIYADH: Arab National Bank (ANB) reported a net profit of $632 million for the first nine months of 2015, compared to $599 million for the same period last year, an increase of 5.5 percent.

Profits of the third quarter of 2015 reached $203.8 million compared to $199.4 million for the same period last year, representing an increase of 2.2 percent.

ANB’s total operating income for the first nine months of 2015 reached $1,193 million compared to $1,083 million for the same period last year, an increase of 10.2 percent.

Assets as of Sept. 30, 2015 reached $44 billion, and investments reached $8.2 billion, while the loans portfolio reached $30.1 billion and customers’ deposits reached $35.3 billion.

ANB’s Chief Executive Officer Robert Eid stated that 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.