Arab National Bank (ANB) reported a net profit of $807 million for 2017 compared to $761 million in 2016.

ANB total operating income reached $1,701 million compared to $1,561 million for the same period last year, an increase of 8.9%.

By the end of 2017, assets reached $45,8 billion and investments reached $8,6 billion, while the loans portfolio reached $30,5 billion and customers’ deposits reached $36,3 billion.

Commenting on the bank’s results, Dr. Robert Eid, Managing Director and Chief Executive Officer, said “the increase in the bank’s profits resulted principally from balanced growth in various business lines, and its conservative risk management culture.” — SG