Arab National Bank (ANB) has reported a net profit of $807 million for 2017 compared to $761 million in 2016.
ANB’s total operating income reached $1,701 million compared to $1,561 million for the same period last year, an increase of 8.9 percent.
By the end of 2017, assets reached $45.8 billion and investments reached $8.6 billion, while the loans portfolio reached $30.5 billion and customers’ deposits reached $36.3 billion.
Commenting on the bank’s results, 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.”
ANB’s total operating income reached $1,701 million compared to $1,561 million for the same period last year, an increase of 8.9 percent.
By the end of 2017, assets reached $45.8 billion and investments reached $8.6 billion, while the loans portfolio reached $30.5 billion and customers’ deposits reached $36.3 billion.
Commenting on the bank’s results, 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.”
