ArabBank (ANB)

Arab National Bank is a company founded in 1930 in Jerusalem with a starting capital of 5,000 Palestinian pounds and listed on the Saudi Tadawul Stock Exchange in 1993. ANB provides banking services in the retail, corporate, treasury, investment, and brokerage segments.

In 1948, the British Mandate Authority withdrew from Palestine, which adversely affected the Arab National Bank and resulted in the loss of its branches in Jaffa and Haifa. After such an event, some clients had to leave the country, and after a while, they requested their deposits back. What the Arab National Bank reacted with understanding and ultimately returned everything to the owners. The act caused great loyalty from potential and existing customers.

In the 40s and 50s of the 20th century, the Arab National Bank actively expanded its network of branches in Saudi Arabia, accelerating the development of the Arab economy in a difficult period when no bank took on so much responsibility. In 1961, the Arab National Bank became the first Arab bank in Switzerland, opening its first international branch.

In 1990, ANB included investment banking in its list of services, which greatly expanded its influence. In 2006, founded the London subsidiary Europe Arab Bank, whose shares were bought in half by Turkland Bank and the insurance company Al Nisr Al Arabi.

After a while, the Arab National Bank was transformed into one of the largest banks in the Middle East. Currently, it represents a robust Arab banking network, with 600 branches on five continents and covering critical financial markets in London and Dubai, Frankfurt and Sydney, Bahrain and Singapore, Geneva, and Paris.

The director of Arab National Bank notes: "even in turbulent times, the bank never violated payments to customers or partners, fulfilling obligations, regardless of the political and economic situation."

By the way, for the first half of 2019, the ANB Board of Directors paid dividends to shareholders of 750 million rials, that is, 5% of the face value of the share or SAR0.5 per share.

ANB Profit and Award from World Finance Magazine

In the published interim report of the Arab National Bank for the second quarter of 2019, it says that net profit increased by 19.6% to 894.2 million riyals. In the same period in 2018, it amounted to 747.2 million riyals.

The company explains the increase in net profit by the rise in total operating income by 5.3%, as well as the increase in net income from special commissions and the share of profit from associates.

Total revenue also increased significantly, it rose by 18.95%, which equals 1.95 billion riyals for the period from April to June 2019. In general, ANB revenue in 2019 increased by 22.6%, reaching 3.8 billion riyals in the first six months. At the end of June 2019, the assets of the Arab National Bank rose by 1.8%, amounting to 170.9 billion riyals. Customer deposits, at one time, increased by 1.9% year on year to 131.9 billion riyals for the period from January to June. Based on this, there is nothing suspicious that the London magazine World Finance again called the Arab National Bank “The Best Retail Bank of Saudi Arabia.” Well-known financial magazine awards based on expert assessments of independent judges and reviews of popular rating agencies.

The winner is determined by the basic standards of work quality, including the ability to return stable growth rates, effective planning, and implementation of new services.

The historical facts, status, achievements, and financial indicators of Arab National Bank suggest to traders that the acquisition of shares in the long term can be a profitable financial solution.

Stock quotes - current exchange rate and chart

InstrumentDescriptionSpreadCost
Citigroup Stock Citigroup - course and charts643.57
Manchester United Stock Manchester United - course and charts1013.38
Exxon Mobil Stock Exxon Mobil - course and charts633.37
NIKE Stock NIKE - course and charts6124.62
Santander Group Stock Santander Group - course and charts82.09
Coca Cola Stock Coca Cola - course and charts649.31
JPMorgan Chase and CO Stock JPMorgan Chase and CO - course and charts6103.39
MICROSOFT Stock MICROSOFT - course and charts6206.08
Chevron Stock Chevron - course and charts671.69
Banque Saudi Fransi Stock Banque Saudi Fransi - course and charts2529.68
Facebook Stock Facebook - course and charts6265.13
Riyad Bank Stock Riyad Bank - course and charts1519.01
BOEING Stock BOEING - course and charts10153.68
Saudi British Bank Stock Saudi British Bank - course and charts1023.17
General electric Stock General electric - course and charts67.78
FERRARI Stock FERRARI - course and charts10195.94
Riyad Bank Stock Riyad Bank - course and charts818.03
AMAZON Stock AMAZON - course and charts243046.42
Goldman Sachs Group Stock Goldman Sachs Group - course and charts6197.68
Nike Stock Nike - course and charts151647.83
Saudi investment bank Stock Saudi investment bank - course and charts815.65
Nvidia Stock Nvidia - course and charts1261.82
Tesla motors Stock Tesla motors - course and charts14423.63
Intel Stock Intel - course and charts1044.77
WalMart Stock WalMart - course and charts6142.78
Something went wrong
Message: