VOL. XXXIX

No. 22

26-February-1996

SAUDI ARABIA

Arab National Bank Profits Up 2%

Riyadh-based Arab National Bank (ANB), in which the Jordanian Arab Bank has a 40% stake, has produced a small 2% increase in profits in 1995 to SR414mn ($110mn) and a dividend held steady at SR299mn ($80mn). The improvement, which follows a slump in net income in 1995, is mainly due to improved gains on exchange and lower staff costs. On the core lending side, net special commission (interest) income fell by 3%...