Al Muneef: CEO Mohammed Al Jreis resigns, Hisham Al-Toaimi replaces him until end of year

Arab Bank recorded a net profit of 1.076 billion riyals in the third quarter, compared to 721 million riyals in the same quarter of last year, an increase of 16.8%. This came after today’s announcement of the preliminary financial results for the period ending September 30, 2023 (9 months).
Total Operating Expenses Before Provisions for Credit and Other Losses amounted to 723 million riyals in the third quarter, compared to 596 million riyals in the same quarter of last year, a rate of 21.3%.
Net profit in the current period reached 3.13 billion riyals, compared to 2.28 billion riyals in the same period last year, an increase of 37.5%.
Profits per share in the current period reached 2.09 riyals, compared to 1.52 riyals in the same period last year.