RIYADH: Saudi Arabia’s Arab National Bank has posted a 29 percent increase in profit during the first half of 2022. The bank recorded a net profit of SR1.4 billion ($360 million), compared to SR1.1 billion in the same period a year earlier, according to a bourse filing. The profit growth was primarily attributable to higher gains from special commissions, financing, and investment activities, along with a rise in net exchange and trading income. The value of the bank’s assets grew by 15 percent on the year to SR210 billion, with deposits rising 13 percent. Founded in 1979, Riyadh-based Arab National Bank is one of the ten largest in the Middle East, operating through 156 branches in the Kingdom.