Arab National Bank (ANB) reported a net profit of $530 million for the first nine months of 2013 compared to $519 million for the same period last year, an increase of 2.04 percent.
Profits of Q3, 2013 reached $157.1 million compared to $152.7 million for the same period last year, representing an increase of 2.85 percent.
ANB total operating income for the first nine months of 2013 reached $1.01 billion compared to $970.3 million for the same period last year, an increase of 4.3 percent. Assets as of Sept. 30, 2013 reached $36.8 billion, and investments reached $7.6 billion, while the loans portfolio reached $23 billion and customer deposits reached $28 billion.
Robert Eid, ANB CEO, stated that these results reflect the bank's continued focus on achieving sustainable growth alongside a conservative credit culture.
ANB net profit rises to $530m
