Arab National Bank (ANB) has reported a net profit of $190.1 million for the first quarter of 2014 compared to $181.0 million for the same period last year, an increase of 5.0 percent.

Total operating income for the first quarter of 2014 reached $349 million compared to $338.2 million for the same period last year, an increase of 3.2 percent, said a bank release.

Earnings per share for the first three months reached $0.19 compared to $0.18 for the same period last year.

ANB assets at March 31, 2014 reached $40.1 billion against $35.6 billion for the same period last year representing an increase of 12.6 percent.

Investments reached $9.7 billion compared to $5.8 billion for the same period last year representing an increase of 66.8 percent.

The loans portfolio reached $23.3 billion against $22.9 billion for the same period last year representing an increase of 1.7 percent.

Customer deposits reached $31.3 billion against 29.1 billion for the same period last year representing an increase of 7.7 percent.

Robert Eid, ANB chief executive officer, said the results reflected the bank’s continued focus on achieving sustainable growth alongside a conservative credit culture.