JEDDAH – Arab National Bank (ANB) reported a net profit of $632.3 million in 2012, an increase of 9.21 percent compared to $579 million in 2011, the bank said in a statement Monday. ANB total operating income reached $1,268.5 million compared to $1,211.1 million for the same period last year, an increase of 4.7 percent. By the end of 2012, assets reached $36.4 billion and investments reached $6.5 billion, while loans portfolio reached $23.0 billion and customers' deposits reached $28.7 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
