Jordan's Arab Bank Q1 net profit up 24 per cent
Jordan-based Arab Bank Group said on Sunday its first-quarter net profit rose 24.4 percent to $232.8 million as the bank further diversified its operations and expanded its regional presence.
By Agencies |
AMMAN: Jordan-based Arab Bank Group said on Sunday its first-quarter net profit rose 24.4 percent to $232.8 million as the bank further diversified its operations and expanded its regional presence.
Chairman and CEO Abdel Hamid Shoman said in a statement that growth had come from the bank's "policy of avoiding risks and diversifying its investments geographically and sectorally."
Shoman said the total assets of Arab Bank Group, one of the Middle East's major financial institutions which includes Arab Bank Switzerland headquartered in Zurich, rose 21.6 percent in the first quarter to $40.5 billion from $33.3 billion in the same period last year.
Chairman and CEO Abdel Hamid Shoman said in a statement that growth had come from the bank's "policy of avoiding risks and diversifying its investments geographically and sectorally."
Shoman said the total assets of Arab Bank Group, one of the Middle East's major financial institutions which includes Arab Bank Switzerland headquartered in Zurich, rose 21.6 percent in the first quarter to $40.5 billion from $33.3 billion in the same period last year.
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