Business Services Industry
ARAB NATIONAL BANK REGISTERS 20% NET INCOME CLIMB
Info-Prod Research (Middle East), April, 2003
According to Al-Hayat newspaper (April 10, 2003), the Arab National Bank announced its annual financial results for the first quarter of 2003. The bank's net income increased to 185.5 million Saudi riyals ($49.4 million) in the first quarter of 2003 compared with SR 153.7 million ($41 million) in the first quarter of 2002, an increase of 20 percent.
The net commission income of the National Arab Bank rose to SR 377.1 million in the first quarter of 2003, a 14 percent rise compared with the same quarter of 2002. The Arab National Bank (ANB) is one of the ten commercial banks in the Kingdom of Saudi Arabia. ANB was established in 1980.
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