RIYADH – Arab National Bank (ANB) reported a net profit of $519 million for the first nine months of 2012, compared to $481 million for the same period last year, an increase of 7.9 percent, the company said in a statement Tuesday. Profits in the third quarter reached $152,7 million compared to $138,4 million for the same period last year, representing an increase of 10.3 percent. ANB total operating income for the first nine months of 2012 reached $970,3 million compared to $911,6 million for the same period last year, an increase of 6.4 percent. Assets as of Sep. 30, 2012 reached $33,4 billion and investments reached $7,1 billion, while the loans portfolio reached $22,3 billion and customer deposits reached $26,2 billion. Dr. Robert Eid, ANB Chief Executive Officer, said such good results reflect the strength of the banking sector and the benign economic environment as well as the bank's continued focus on achieving sustainable growth alongside a conservative credit culture. – SG
