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Opinion of Amman
The Arab Bank Group said yesterday in a statement that the Arab Bank Group had continued to post positive results in the year 2019, which resulted in a net profit growth of after-tax group and provisions reaching $ 453 million as at June 30, 2019, compared with $ 436 million for the same period last year and the growth rate. 4%. The Bank maintained a strong capital base with total equity of US $ 8.7 billion.
Credit facilities at June 30, 2019 amounted to $ 26.2 billion compared to $ 25.5 billion for the same period last year, a 3% increase, while Customers grew 3% to 34.1 billion USD, up from 33 billion USD. At June 30, 2018.
Commenting on the positive results of the Bank, President Sabih Al Masri emphasized his ability to achieve sustainable growth by successfully managing various conditions and adapting to developments and changes, particularly in light of the observed economic slowdown. In the region. And a prudent and conservative credit policy.
Arab Bank Chief Executive Officer Nima Sabbagh said that her operational results have allowed her to grow by 5%, reaching US $ 698.7 million as at June 30, 2019, thanks to the efficiency of her operations. operations and diversification of its banking products and services. (5%) in addition to the effectiveness of controlling its operating expenses to become the ratio of efficiency (expenditure on revenue) of 38%.
The bank's financial position has been maintained thanks to its consistently high liquidity levels: the loan-to-deposit ratio is set at 76.9%, in addition to improving the quality of the credit facility portfolio. while maintaining a coverage rate greater than 100%. The capital ratio was 15.8%.
Arab Bank was recently voted Best Middle East Bank for 2019 by Euromoney International – London.
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