ANB posts $205.5m quarterly net profit

ANB posts $205.5m quarterly net profit
Updated 15 April 2015

ANB posts $205.5m quarterly net profit

ANB posts $205.5m quarterly net profit

Arab National Bank (ANB) reported a net profit of $205.5 million for the first quarter of 2015 compared to $190.1 million for the same period last year, an increase of 8.1 percent. Total operating income for the first quarter of 2015 reached $400.9 million compared to $349 million for the same period last year, an increase of 14.9 percent.
Earnings per share for the first three months reached $0.21 compared to $0.19 for the same period last year. ANB assets at March 31, 2015 reached $43.9 billion against $40.1 billion for the same period last year, representing an increase of 9.5 percent.
Investments reached $9 billion compared to $9.7 billion for the same period last year, representing a decrease of 7.2 percent, while the loans portfolio reached $28.9 billion against $23.3 billion for the same period last year, representing an increase of 23.9 percent.
Customer deposits reached $35 billion against 31.3 billion for the same period last year, representing an increase of 11.5 percent.
ANB’s CEO 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.