Arab National Bank (ANB) reported a net profit of SAR 2.6 billion for the first nine months of 2018, up 9.7 percent year-on-year (YoY) driven by higher operating income, mainly from increases in net special commission income, net trading income, and other operating income.
The lender also cited a rise in net unrealized gain from FTTPL financial instruments, as well as lower total operating expenses.
Net Special Commission Income
Net profit for the third quarter climbed 14.8 percent YoY to SAR 890 million, due to a decline in operating expenses, higher operating income and net special commission income, net exchange income, and dividend income.
Q3 profit, however, dropped 3.2 percent compared to the previous quarter, hurt by an 8.9 percent increase in operating expenses due to higher impairment charges for loan losses.