News Room

FEB
28
Arab National Bank reports net profit before zakat and income tax of USD 686 million for 2020

Arab National Bank (ANB or the Bank) reported a net profit before zakat and income tax of USD 686 million for 2020 compared to USD 947 million in 2019, representing a decrease of 27.6%.

ANB total operating income reached USD 1,553 million compared to USD 1,795 million for the same period last year, decrease of 13.5%, whereas net special commission income reached USD 1,298 million against USD 1,481 million for the same period last year, a decrease of 12.3%.

Net profit after zakat and income tax reached USD 553 million compared to USD 806 million last year.

 By the end of 2020, assets reached USD 48.1 billion compared to USD 48.9 billion for the same period last year, and investments reached USD 11.7 billion compared to USD 10.1 billion last year an increase of 15.1%, while the loans portfolio reached USD 30.2 billion against USD 31.7 billion for the same period last year, a decrease of 4.6%  and customers’ deposits reached USD 34.5 billion compared to 37.9 for the same period last year.

Engineer Salah R. Al-Rashed, Board Chairman, stated, “Despite severity of the pandemic, the bank managed to deliver satisfactory results. Protection of the health and safety of our customers and employees alike ranked high on our list of priorities, while focusing on enhancing digital services to ensure continuity of work remotely, and uninterrupted offering of products and services anytime, anywhere thru various delivery channels”.

Al-Rashed added, “The bank actively participated in all initiatives adopted by the Custodian of the Two Holy Mosques government to alleviate damages to individuals and corporations, particularly SMEs. To this end, ANB launched diverse initiatives and activities in the context of its social responsibility”.

Al-Rashed expressed his appreciation and gratitude to the bank customers for their unwavering confidence, and commended the exceptional efforts of bank employees.    

Arab National Bank (ANB or the Bank) reported a net profit before zakat and income tax of USD 686 million for 2020 compared to USD 947 million in 2019, representing a decrease of 27.6%.

ANB total operating income reached USD 1,553 million compared to USD 1,795 million for the same period last year, decrease of 13.5%, whereas net special commission income reached USD 1,298 million against USD 1,481 million for the same period last year, a decrease of 12.3%.

Net profit after zakat and income tax reached USD 553 million compared to USD 806 million last year.

 By the end of 2020, assets reached USD 48.1 billion compared to USD 48.9 billion for the same period last year, and investments reached USD 11.7 billion compared to USD 10.1 billion last year an increase of 15.1%, while the loans portfolio reached USD 30.2 billion against USD 31.7 billion for the same period last year, a decrease of 4.6%  and customers’ deposits reached USD 34.5 billion compared to 37.9 for the same period last year.

Engineer Salah R. Al-Rashed, Board Chairman, stated, “Despite severity of the pandemic, the bank managed to deliver satisfactory results. Protection of the health and safety of our customers and employees alike ranked high on our list of priorities, while focusing on enhancing digital services to ensure continuity of work remotely, and uninterrupted offering of products and services anytime, anywhere thru various delivery channels”.

Al-Rashed added, “The bank actively participated in all initiatives adopted by the Custodian of the Two Holy Mosques government to alleviate damages to individuals and corporations, particularly SMEs. To this end, ANB launched diverse initiatives and activities in the context of its social responsibility”.

Al-Rashed expressed his appreciation and gratitude to the bank customers for their unwavering confidence, and commended the exceptional efforts of bank employees.    

Posted on 2/28/2021
JAN
11
ANB co-sponsors the "Revival of the Historic Zubaidah Trail" festival

ANB participates in sponsoring the "Revival of the Historic Zubaidah Trail" festival, launched on Monday 4/1/2021 in Hail, under the patronage of the region's governor, His Royal Highness Prince Abdulaziz bin Saad bin Abdulaziz. The event will last for 16 days, with the participation of a number of hiking and archeology fans who will travel a distance of 420 km.

The bank’s initiative is part of its support for social and cultural activities that highlight the Kingdom’s history and heritage.

Zubaidah Trail, named after Zubaidah bint Ja’far, wife of Abbasid Caliph Harun Al-Rashid, is a landmark that has played a prominent religious, economic and social role.

ANB participates in sponsoring the "Revival of the Historic Zubaidah Trail" festival, launched on Monday 4/1/2021 in Hail, under the patronage of the region's governor, His Royal Highness Prince Abdulaziz bin Saad bin Abdulaziz. The event will last for 16 days, with the participation of a number of hiking and archeology fans who will travel a distance of 420 km.

The bank’s initiative is part of its support for social and cultural activities that highlight the Kingdom’s history and heritage.

Zubaidah Trail, named after Zubaidah bint Ja’far, wife of Abbasid Caliph Harun Al-Rashid, is a landmark that has played a prominent religious, economic and social role.

Posted on 1/11/2021
JAN
04
ANB and Monsha’at sign financing agreement

Arab National Bank and Monsha'at have entered into an agreement that will enable, small and medium enterprises (SMEs) to obtain financing from ANB via Monsha’at’s dedicated Financing Gateway page at Monsha’at website. 

The agreement was signed by the Deputy Governor of "Monshaat" Mr. Muhammad bin Misfer Al-Maliki, and the Head of Small and Medium Enterprises Division at ANB, Mr. Khaled Abdulaziz Al-Rashed.

Speaking about the agreement, Deputy CEO of ANB, Mr. Obaid Al Rasheed mentioned that this agreement is part of the bank’s continuous efforts to cooperate with various government authorities in order to support and fulfill the financial needs of SMEs, being one of the economic pillars of the Kingdom’s 2030 vision. 

It is worth mentioning that Monshaat is working with its partners from all sectors to diversify sources of financial support for SMEs, in order to increase their contribution in the GDP to 35% by 2030.

Arab National Bank and Monsha'at have entered into an agreement that will enable, small and medium enterprises (SMEs) to obtain financing from ANB via Monsha’at’s dedicated Financing Gateway page at Monsha’at website. 

The agreement was signed by the Deputy Governor of "Monshaat" Mr. Muhammad bin Misfer Al-Maliki, and the Head of Small and Medium Enterprises Division at ANB, Mr. Khaled Abdulaziz Al-Rashed.

Speaking about the agreement, Deputy CEO of ANB, Mr. Obaid Al Rasheed mentioned that this agreement is part of the bank’s continuous efforts to cooperate with various government authorities in order to support and fulfill the financial needs of SMEs, being one of the economic pillars of the Kingdom’s 2030 vision. 

It is worth mentioning that Monshaat is working with its partners from all sectors to diversify sources of financial support for SMEs, in order to increase their contribution in the GDP to 35% by 2030.

Posted on 1/4/2021
DEC
01
ANB launches a completely revamped mobile app

Arab National Bank has launched the latest version of its app, ANB Mobile, with a revamped interface, exceptional features, and biometric identification technology.
 

Obaid A. Al-Rasheed, deputy CEO, said: “The new platform is part of our transformation strategy and reflects our continuing commitment to offering a more convenient and secure banking experience.”
 

The upgraded app is loaded with advanced features to fulfill a wide range of digital banking solutions, whereby customers can open accounts, login easily through biometrics, manage their accounts, cards and investments round the clock, and apply for finance products conveniently, without the need to visit the branch.

Arab National Bank has launched the latest version of its app, ANB Mobile, with a revamped interface, exceptional features, and biometric identification technology.
 

Obaid A. Al-Rasheed, deputy CEO, said: “The new platform is part of our transformation strategy and reflects our continuing commitment to offering a more convenient and secure banking experience.”
 

The upgraded app is loaded with advanced features to fulfill a wide range of digital banking solutions, whereby customers can open accounts, login easily through biometrics, manage their accounts, cards and investments round the clock, and apply for finance products conveniently, without the need to visit the branch.

Posted on 12/1/2020
NOV
09
ANB announced a net profit of USD 479,6 million in the first nine months of 2020

Arab National Bank (ANB) reported a net profit of USD 479,6 million for the first nine months of 2020, compared to USD 668,8 million for the same period last year, a decrease of 28.3%.

Profits of the third quarter of 2020 reached USD 178,3 million compared to USD 222,6 million for the same period last year, representing decrease of 19.9%.

ANB total operating income for the first nine months of 2020 reached USD 1,180 million compared to USD 1,361 million for the same period last year, a decrease of 13.3%. Assets as of September 30, 2020 reached USD 50,3 billion, and investments reached USD 11,6 billion, while the loans portfolio reached USD 31,5 billion and customers’ deposits reached USD 36,5 billion.

Arab National Bank (ANB) reported a net profit of USD 479,6 million for the first nine months of 2020, compared to USD 668,8 million for the same period last year, a decrease of 28.3%.

Profits of the third quarter of 2020 reached USD 178,3 million compared to USD 222,6 million for the same period last year, representing decrease of 19.9%.

ANB total operating income for the first nine months of 2020 reached USD 1,180 million compared to USD 1,361 million for the same period last year, a decrease of 13.3%. Assets as of September 30, 2020 reached USD 50,3 billion, and investments reached USD 11,6 billion, while the loans portfolio reached USD 31,5 billion and customers’ deposits reached USD 36,5 billion.

Posted on 11/9/2020
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