Arab National Bank (anb) has seen its first-quarter (Q1) net profit jump 64.1% to $284.7 million, compared to $173.5 million for the same period last year.

 

anb total operating income for the first quarter of 2023 reached $581.5 million compared to $387.9 million for the same period last year, an increase of 49.9%. Assets as of March 31, 2023 reached $57.1 billion, and investments reached $11.1 billion, while the loans portfolio reached $38.6 billion and customers’ deposits reached $41.4 billion.

 

Engineer Salah R Al-Rashed, Chairman of the Board, stated: “The bank sustained its strong financial performance during the first quarter of this year, as a result of its strategic approach in continuing to enrich customer experience, enhancing the effectiveness of its operations, accelerating momentum in digital transformation and investing in human resources.”-- TradeArabia News Service