Riyadh – Mubasher: Arab National Bank on Sunday reported a 12.3% year-on-year rise in its profits for the fourth quarter of 2017, compared to the year-ago period.
The Saudi Arabia-based bank’s profits amounted to SAR 634.4 million in Q4-17, compared to SAR 565.1 million in the same period a year earlier, according to a bourse filing.
Quarter-on-quarter, the lender’s profits tumbled 18.2%.
The Saudi bank attributed the increase in its fourth-quarter net profits to a 13.6% growth in operating income due to a rise in net special commission income.
For the full-year 2017, the bank posted a 6.1% increase in net profits, registering SAR 3.03 billion, compared to SAR 2.85 billion in the year before.
By 10:03 am KSA time, Arab National Bank's stock rose 0.07% to SAR 27.95.
