Arab Bank full year profit up 15%

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Arab Bank Group, Jordan's largest lender said full year profit increased 15 percent in 2012 from the previous year as net interest income grew.

The Amman-based bank said 2012 net profit increased to US$352m from US$305.9m the previous year, despite "a challenging political and economic environment," and a result of "prudent risk management policies," chairman Sabih Masri said in a statement.

Customer deposits increased 3.8 percent to US$32.9bn from the previous year, while the bank's net operating income grew 8 percent in 2012 as a result of an increase in net interest income and maintaining expenses under control, CEO Nemeh Sabbagh said.

The bank, which operates in more than 30 countries, had a 15.09 percent capital adequacy ratio at the end of the year, he said.

The bank's board will  recommend to the general assembly the distribution of 30 percent dividends for the year, up from 25 percent in 2011 and 20 percent in 2010, Masri said in a statement.

Related:
Companies

Market Performance

Arab Bank - Jordan
9.48
-0.02 -0.21 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Women edge into Gulf boardrooms as economies, societies shift

Women edge into Gulf boardrooms as economies, societies shift

Amina al-Rustamani, CEO of TECOM Investments, is leading the...

Dubai mulls rule change to lure more domiciled funds

Dubai mulls rule change to lure more domiciled funds

Proposed rules would create a new class of funds in the Dubai...

Gulf's rift over Qatar may slow investment, reforms

Gulf's rift over Qatar may slow investment, reforms

Analysts suggest dispute may not hurt immediately but could impact...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams