April 1, 2023

Dubai Week

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"Arab Bank" posted $ 166 million profit in the first quarter

“Arab Bank” posted $ 166 million profit in the first quarter

Dubai: “Gulf”

The Arab Bank Group achieved positive results in the first quarter of 2022; Net profit after tax was $ 166 million, up from $ 128.3 million in the same period in 2021, a growth of 29.4%. These results demonstrate the strength of the group’s financial position and the quality of its assets. The group maintained a strong financial position and $ 10.2 billion in equities, reaching a capital adequacy ratio of 16.5% under the Basel III guidelines, which is higher than the minimum required by the Jordanian central bank.

“Positive results reflect the Bank’s ability to sustain sustainable growth and keep pace with developments and changes in the region and around the world,” said Sobeih Al-Masry, Chairman of the Board of Directors. Takes advantage of available and hidden opportunities. In various parts of its existence.

For his part, Randa Al-Sadiq, Managing General Manager, Arab Bank, said: ; The group was able to overcome many challenges and continue its excellent performance, which was reflected in the development of customer deposit and credit facilities. The loan-to-deposit ratio reached 74.3%, while the coverage ratio for non-performing loans exceeded 100%.

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