Riyadh – Mubasher: Arab National Bank on Wednesday said that its profits rose 7.5% in third quarter of 2017, compared to the year-ago period.

The bank’s profits stood at SAR 775.5 million in Q3-17, compared to SAR 721.7 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, profits tumbled 8.66%.

The Tadawul-listed bank attributed the growth of its year-on-year net profits to the increase in operating income by 12.2%.

At the level of the first nine months, the bank’s profits went up 4.5% to SAR 2.39 billion, from SAR 2.29 billion in the same period in the previous year.

The stock inched up 0.8%, closing at SAR 22.79 on Wednesday.