Arab Bank earns record profits in 2000
The Jordan-based Arab Bank earned more than $180 million in record net profits in 2000, its chairman Abdel Majid Shuman said in a press release published Tuesday, January 9.Profits after taxes at December 31 stood at 130 million dinars (over $180 million), representing an eight percent growth over 1999, in what is considered a "record" since the bank's establishment 70 years ago.The bank's assets at the end of last year's first quarter stood at more than $20 billion, the statement added.
The Arab Bank is a leading financial institution which operates in 30 countries, in Europe and the United States as well as the Middle East. —(AFP)
© Agence France Presse 2000
© 2001 Mena Report (www.menareport.com)