Arab National Bank (ANB) has completed a recently approved buy-back scheme for its employee stock incentive programme.

The listed lender repurchased a total of 5 million shares worth around SAR 98.3 million ($26.2 million), according to a disclosure on the Saudi Stock Exchange (Tadawul).

The shares were acquired at an average price of SAR 19.67 per share. The repurchase scheme, slated to run for up to a year, was approved at the company's Extraordinary General Assembly in May 2024.

The bank’s net profit for the first half of the year reached SAR 2.46 billion, while total assets rose more than 8% to SAR 234.75 billion.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com