Banking on stability? Arab Bank posts 7% in profits
Jordan-based Arab Bank reported a 7 percent increase in first-half net profit, underpinned by growing revenues.
Arab Bank has been expanding across several Middle Eastern countries and has built a reputation for stability in a region shaken by conflict and political upheaval, partly thanks to diversified investments.
Its net profit after provisions was $414.9 million, against $387.3 million in the opening six months of 2013, an emailed statement said.
Net interest and commissions rose 3 percent and 7 percent respectively compared to the same period last year.
Chief Executive Nemeh Al-Sabbagh said the bank's capital adequacy ratio was 14.15 percent at the end of June.
Arab Bank also owns 40 percent of Saudi Arabia's Arab National Bank ANB.
- Oman’s Duqm tourist complex moves forward with government approval
- Tunisian Confederation of Industry, Trade, and Handicrafts fights nationwide unemployment levels
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Construction costs fall in Dubai
- Western tourists flock to Iran, could generate $30B in new revenue
- Jordan’s Arab Bank posts 7.3 percent profit climb
- Arab Bank posts $422.9M profit in first half of 2015
- Arab banking corporation posts seven percent revenue increase
- Arab Bank Group profit rises 7.5% in the first half to reach USD 387 million
- Gulf Bank posts net profit KD 7.9 million for first quarter 2013