Printer Friendly

ANB registers net profit of $384m.

MANAMA: Arab National Bank (ANB) earned a net profit of $384.2 million for the first half of the year, a 1.1 per cent increase on the $379.7m it posted for the same period last year.

Total operating income at the Saudi Arabian bank increased by 6.5pc to reach $631.7m, and net special commission income increased by 4.4pc to reach $481.6m.

Net profit of the second quarter reached $198.9m compared to $200.5m for the same period last year, a decline of 0.8pc.

The bank continued to maintain strong ratios. Assets increased by 4.3pc to reach $30.69 billion, investments grew by 23.7pc to $7.36bn.

The loan portfolio rose by 1.8pc to $18.98bn and customer's deposits grew by 0.4pc to $22.72bn.

"The half yearly results are a reflection of the bank's conservative culture and policy of balanced growth," said managing director and chief executive officer Dr Robert Eid.

Copyright 2009 Gulf Daily News

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Gulf Daily News (Manama, Bahrain)
Article Type:Financial report
Date:Jul 22, 2009
Words:176
Previous Article:CBB's sukuk big success.
Next Article:Flu patients could be treated at home.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |