Total operating income reached SR4.50 billion compared to SR4.49 billion for the same period last year, an increase of 0.2 percent. Net special commission income reached SR3.16 billion compared to SR3.46 billion for the same period last year, representing a decrease of 8.6 percent. The earnings per share reached SR2.94 compared to SR3.65 for the same period last year.
By the end of 2010, assets reached SR116.0 billion against SR110.3 billion for the same period last year representing an increase of 5.2 percent. Investments reached SR32.8 billion compared to SR23.3 billion for the same period last year, representing an increase of 41.2 percent, while the loans portfolio reached SR66.2 billion against SR66.8 billion for the same period last year, representing a decrease of 0.9 percent. Customers' deposits reached SR84.2 billion against SR82.7 billion for the same period last year, representing an increase of 1.8 percent.
Commenting on the bank's results, Robert Eid, managing director and chief executive officer, said: "The drop in the bank's profits resulted principally from low interest rates that led to the decrease in the special commission income, and from setting aside additional provisions in line with the bank's conservative risk management culture."
"ANB continued in 2010 executing its branch network transformation and expansion project with new branches opened and others relocated throughout the Kingdom," Eid added.
