A profit of 453 million USD from the Arab Bank Group in the first half of this year

The Arab Bank Group continued to post positive results in 2019, which translates into an increase in net profit after tax and provisions of the group, which stood at USD 453 million at June 30, 2019, compared with 436 million USD for the same period of the previous year, with growth of 4%. . The Bank maintained a strong capital base with total equity of US $ 8.7 billion.
Credit facilities were $ 26.2 billion as at June 30, 2019, compared with $ 25.5 billion for the same period last year and 3% growth, while customer deposits increased by 3%. %, at 34.1 billion USD, against 33 billion USD. June 30, 2018.
Commenting on the positive results of the bank, Mr. Sabih Al Masri, Chairman of the Board, confirmed the bank's ability to achieve sustainable growth by successfully managing various conditions and adapting to changing market conditions. and changes, particularly because of the economic slowdown in the region. And a prudent and conservative credit policy.
Naama Sabbagh, Chief Executive Officer of Arab Bank, said: "The Bank's excellent operational performance has allowed it to grow 5% to reach $ 698.7 million as of June 30, 2019, thanks to the 39, the efficiency of its operations and the diversification of its banking products and services.The main banking business of 5% in addition to the efficiency of the control of its operating expenses to become the ratio of d & # 39; 39, efficiency (product charges) of 38%.
Sabbagh underscored the strength of the Bank's financial position due to continuing high levels of liquidity: the loan-to-deposit ratio was 76.9% and the quality of its credit facilities was maintained while maintaining a high level of liquidity. coverage greater than 100%. Capital 15.8%.
In conclusion, Mr. Sabeeh Al Masri commended the position of the Arab Bank as a pioneer in the field of banking at the local and regional levels, underlining its continued commitment to achieving the best results.
Arab Bank has recently been voted Best Middle East Bank for 2019 by Euromoney International Magazine – London, as well as the Middle East's Best Bank for 2019 and for the fourth consecutive year by Global Finance) Global – New York.