Riyadh - Mubasher: Arab National Bank (ANB) reported on Thursday a 2.07% decline in profits in the second quarter of 2016 to SAR 818 million ($218 million), compared to SAR 835.3 million ($222.7 million) in the same quarter last year.
Despite the year-on-year decline, profits increased 9.18% quarter-on-quarter.
The year-on-year decrease in profits resulted from the rise in total operations cost by 8.8%, according to the bank’s statement to the Saudi Stock Exchange (Tadawul).
In the first half of current year, profits went down 2.41% to SAR 1.57 billion ($418.56 million) compared to SAR 1.61 billion ($429.23 million) in H1-15.
