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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

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Publication:Gulf Daily News (Manama, Bahrain)
Article Type:Financial report
Date:Jul 22, 2009
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