Riyadh, Date: 6/11/ 2019 – Arab National Bank (“ANB”), and Ria Money Transfer (“Ria”), a subsidiary of Euronet Worldwide and the second largest cross-border money transfer company in the world, have announced their partnership to facilitate money transfer payout services in Saudi Arabia.
The agreement allows Arab National Bank customers in Saudi Arabia to send money to beneficiaries in India through ANB´s 96 dedicated TeleMoney centers located in the Kingdom.
Anwar Al-Murshed, Head of TeleMoney, said, “This partnership comes in parallel with our relentless efforts to expand our outreach and further enhance our remittance services to India. Beneficiaries can now easily transfer money, offering greater convenience for their families and friends to collect cash within minutes across India.”
“Ria is a global money transfer leader, with the second largest network in the world and a resolute determination to keep setting a higher standard in remittance delivery for our customers,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Through this strategic partnership, Ria will continue to strengthen its presence in both Saudi Arabia and India. We look forward to working together to provide fast and efficient remittance services where they are needed the most.”
Manuel Villena, Middle East Managing Director for Ria, added: “At Ria, our goal is to ensure our customers can find us anywhere they go and can use our money transfer services to move funds wherever they are needed most. We are thrilled to continue expanding on this front with the help of a leading institution as is the Arab National Bank. We are certain this product offering will prove beneficial to both existing and potential customers in Saudi Arabia.”
Arab National Bank (ANB) reported a net profit of USD 668.8 million for the first nine months of 2019, compared to USD 571.4 million for the same period last year, an increase of 17.0%.
Profits of the third quarter of 2019 reached USD 222.6 million compared to USD 195.0 million for the same period last year, representing an increase of 14.2%.
ANB total operating income for the first nine months of 2019 reached USD 1,361.0 million compared to USD 1,296.9 million for the same period last year, an increase of 4.9%.
Assets as of September 30, 2019 reached USD 45.6 billion, and investments reached USD 9.1 billion, while the loans portfolio reached USD 31.4 billion and customers’ deposits reached USD 34.9 billion.
Arab National Bank has obtained the latest version 3.2.1 of the PCI-DSS (International Card Payment Standards) issued by the Payment Card Industry Standards Council as a result of its commitment to international information security standards in the area of payment cards and its keenness to follow the instructions that would protect customer data by adding more security and reliability measures.
The Payment Card Industry - Data Security Standard is a global standard for providing the highest levels of security and confidentiality for payment cards and data created in 2004 by the council. Compliance with its terms means maximizing security.
"This achievement confirms ANB's commitment to implementing the highest standards of quality and professionalism globally and adopting a continuous development methodology," said Eng. Ala Asali, Chief Information Security Officer at Arab National Bank. Clear and compliant with international standards, which enhances the safe use of payment cards and limits the potential and sophisticated electronic fraud that has recently increased in the region and the world. "
Arab National Bank reported a net profit of USD 446.2 million for the first six months of 2019, compared to USD 376.4 million for the same period last year, an increase of 18.5%.
Profits of the second quarter of 2019 reached USD 238.5 million compared to USD 199.3 million for the same period last year.
ANB total operating income for the first six months of 2019 reached USD 897.9 million compared to USD 847.8 million for the same period last year, an increase of 5.9%.
Assets as of June 30, 2019 reached USD 45.6 billion, and investments reached USD 8.7 billion, while the loans portfolio reached USD 31.9 billion and Customer deposits reached USD 35.2 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.”