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Arab National Bank posts 2.2pc rise in Q3 profit

DUBAI, October 13, 2015

Arab National Bank, Saudi Arabia's seventh-largest lender by assets, reported a 2.2 percent rise in third-quarter profit on Tuesday, marginally missing analysts' forecasts.

Net profit in the three months to September 30 was SR764.2 million ($203.8 million) compared to SR747.9 million in the same period last year, it said in a bourse statement.

Six analysts polled by Reuters had forecast on average the lender would make a third-quarter net profit of SR789.2 million.

Arab National Bank, 40 per cent owned by Jordan's largest lender Arab Bank, cited a rise in operating income as a reason for the increase in earnings, without elaborating.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.  - Reuters




Tags: Saudi | Arab National Bank | ANB |

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