Jordanian lender Arab Bank Group's said its nine-month net profit rose 10 per cent to $614 million compared to last year, attributing it to a diversified portfolio with growth in key markets and a prudent risk strategy.
Arab Bank Group, the largest Jordanian financial institution in terms of assets, equity, and banking market share, has reported a pre-tax net profit of $739.1 million for the period ended on September 30 compared to the same period last year.
Jordan's largest lender, Arab Bank Group, said it has registered a net profit of $352 million in 2012, up 15 per cent over $350 million the previous year on the back of higher revenues.
One of the Middle East's major financial i
Jordan-based Arab Bank Group posted a 10 per cent rise in quarterly profit on Tuesday to $204 million, as revenues rose and its wide geographical spread left it less exposed to the region's political turmoil than some of its peers.
Arab Bank Group, one of the leading financial groups in the Middle East, has posted a 53 per cent drop in its 2010 net profit.
The net profit touched $251 million after it set aside hefty provisions for bad loans for a second consecut
Standard and Poor's, the international credit rating agency has affirmed the ratings of Arab Bank Group at “A-” with “Stable” outlook.
The ratings reflect Arab Bank's strong financial strength, high asset quality and robust capitalization
Jordan's Arab Bank Group said Standard and Poor's Rating Services had affirmed its 'A-'foreign currency long-term rating with a stable outlook due to the bank's healthy financial position.
Chairman Abdel Hamid Shoman sa
Jordan-based Arab Bank Group, one of the Middle East's major financial institutions, said on Tuesday its first-quarter pretax profit fell 20.6 per cent to $216 million.
A statement from the bank, which did not disclose net profit, attr