Riyadh – Mubasher: Arab National Bank (ANB) disclosed its interim financial results for the second quarter of 2019.
Net profits jumped by 19.6% to SAR 894.2 million in Q2-19, compared to SAR 747.2 million in Q2-18, according to the bank’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.
The rise in net profits was attributed to the increase in total operating income by 5.3% resulting mainly from the increases in net special commission income and dividend income, offset by decreases in net fee and commission income, net exchange income, net trading income, and other operating income, in addition to the increase of share in earnings of associates.
Total revenues of the Saudi lander increased by 18.95 to SAR 1.95 billion during the three-month period between April and June, from SAR 1.64 billion in the same period of the previous year.
For the first six months of 2019, net profits of the Riyadh-based bank advanced by 18.5% to SAR 1.67 billion, versus SAR 1.41 billion in H1-18.
ANB achieved SAR 3.8 billion in revenues during H1-19, up 22.6% from SAR 3.17 billion in H1-18.
As for assets, they inched up 1.8% year-on-year to SAR 170.9 billion by the end of June, while total investments hit SAR 32.4 billion over the same period.
Customer deposits went up 1.9% year-on-year to SAR 131.9 billion during the six-month period between January and June.
