Posted by Neil King
An announcement relating to banking profits could be good for property investment in Dubai.
The Arab National Bank (ANB) revealed a net profit for the first three quarters of this year, representing a 1.1 per cent rise on 2008's figures.
Dr Robert Eid, the managing director and CEO of ANB, implied that the positive figures reflected the Bank's conservative culture.
Reaching a net figure of almost USD 169 million for quarter three, compared to USD 167.4 million last year, meant a 0.9 per cent increase was demonstrated.
Earlier on this year, the bank held a prize draw called Update Your Information and Be a Winner. The aim of the campaign was to encourage clients to keep personal information up-to-date and accurate.
Any customers that participated up until the September deadline were entered into the draw, which had cash prizes available.
The ANB was established in 1979 and claims to be one of the Middle East's top ten banks. It has had a branch in London, United Kingdom since 1991.