Half-year profit of $ 453 million from Arab Bank Group

The Arab Bank Group continued to post positive results in 2019, with after-tax net profit growth and provisions reaching $ 453 million as of June 30, compared to $ 436 million for the same period last year. 2018, a growth of 4%.
In a statement released on Saturday, the bank said it had maintained a strong capital base, with total equity of $ 8.7 billion.
Credit facilities were $ 26.2 billion, compared to $ 25.5 billion for the same period last year, a 3% increase, while customer deposits increased 3% to 34%. , 1 billion USD, against 33 billion USD for the same period.
Commenting on the bank's results, President Sabih Al Masri said the bank was able to achieve sustainable growth by successfully managing various conditions and adapting to changes and changes, particularly in light of economic slowdown in the region. Strong, conservative and conservative credit policy.
Al Masri praised the status of Arab Bank in the field of banking at the local and regional levels, noting that the bank continues to maintain the best results.
Arab Bank chief executive Naama Sabbagh said his operational performance has allowed him to grow by 5%, reaching $ 698.7 million by June 30, 2019, thanks to the efficiency of his operations and diversification of its banking products and services. The net interest of the main banking businesses increased by 5% and the efficiency of the operating expenses was adjusted to become the efficiency ratio (expenses / products) of 38%.
Sabbagh also highlighted the soundness of the bank's financial situation due to the persistence of high liquidity levels: the loan-to-deposit ratio was established at 76.9% and the quality of the credit facility was maintained with a hedge ratio greater than 100%, the capital ratio was 15.8%.
Arab Bank was recently voted the Middle East's best bank for 2019 by Euromoney International magazine in London, as well as the Middle East's best bank for 2019 and for the fourth consecutive year by Global Finance in New York.