JD 129.5 Million, the Profits of the Arab Bank Group in the First Half of 2021 of a Growth of 20%
Al-Masri: The positive financial results achieved by the bank in the first half of this year show the potential strength of the diversification of the bank’s business model
Sabbagh: The results of the bank confirm its ability to work strategically according to an effective risk management approach in the face of challenges
The Arab Bank Group achieved net profits after taxes and provisions amounting to $182.4 million for the period ending on June 30, 2021, compared to $152.1 million in the corresponding period for 2020, with a growth rate of 20%. The Bank also maintained a solid capital base, with total equity of 10.3 billion at the end of the first half of 2021.
Commenting on the results, Mr. Sabeih Al Masri, Chairman of the Board said: “The positive financial results achieved by the bank in the first half of this year show the inherent strength of the diversification of the bank’s business model, and the bank’s prudent approach in managing all variables and risks and achieving a better level of profitability in light of the Corona pandemic.”
For his part, Mr. Nehme Sabbagh – Executive Director of the Arab Bank – indicated that the Corona pandemic has tested banks in ways we have not seen before, but the results of the Arab Bank during the first half of 2021 confirm the bank’s ability to work strategically according to an effective risk management approach in Facing challenges.
