Arab National Bank reported a net profit of USD 199.8 million for the first quarter of 2016 compared to USD 205.5 million for the same period last year, a decrease of 2.8% and total operating income for the first quarter of 2016 reached USD 393.4 million compared to USD 400.9 million for the same period last year, a decrease of 1.9%.

Earnings per share for the first three months reached USD 0.20 compared to USD 0.21 for the same period last year. ANB assets at March 31, 2016 reached USD 44.4 billion against USD 43.9 billion for the same period last year representing an increase of 1.1%. Investments reached USD 6.3 billion compared to USD 9 billion for the same period last year representing a decrease of 29.4%, while the loans portfolio reached USD 30.9 billion against USD 29 billion for the same period last year representing an increase of 6.6%. Customer deposits reached USD 35.2 billion against 35 billion for the same period last year representing an increase of 0.6%.

The bank attributed the drop due to lower total operating income, offset by the increase in gains from non-trading investments and other operating income.

ANB - Arab National Bank issued this content on 18 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 19 April 2016 08:12:20 UTC

Original Document: http://www.anb.com.sa/press_article.asp?id=170