RIYADH: Arab National Bank has reported a 33 percent profit increase during the first nine months of 2022.
The bank recorded a net profit of SR2.3 billion ($612 million), compared to SR1.7 billion in the same period a year earlier, according to a bourse filing.
The profit growth is primarily attributable to higher gains from special commissions, financing, and investment activities, along with a rise in net exchange and trading income.
The value of the bank’s assets grew by 13.7 percent on the year to SR207 billion, with deposits rising 14 percent.
Founded in 1979, Riyadh-based Arab National Bank is one of the ten largest in the Middle East, operating 156 branches throughout the Kingdom.