Riyadh – Mubasher: Arab National Bank (ANB) reported a net profit of SAR 749.2 million ($199.78 million) in the first quarter of 2016, a decline of 2.78% from SAR 770.6 million ($205.49 million) in the same period the year before.
The bank said that its profits were down due to a 1.9% decline in income from operations, particularly income pertaining to banking services, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday.
ANB noted a rise in gains from investments and operating revenues, while total operational expenses retreated 1.6%.
