The Middle East’s 25 smartest banks-Arab Bank
At end of June 2009,
Arab Bank Group
achieved a pre-tax and after provisions profit of $452m. Total assets reached almost $48.4bn, while shareholders' equity base is $7.7bn. The ratings agencies have been impressed, too: Fitch says ‘A-' while Moody's and S&P are offering ‘A3' and ‘A-' respectively, on the bank's long term outlook.
Founded by Abdel Hameed Shoman in 1930, the Jordanian bank now has an unmatched Global Arab branch network with 500 branches spanning 30 countries in five continents. It enjoys prominent positions in key financial markets and centres such as London, New York, Dubai, Singapore, Zurich, Paris, Frankfurt, Sydney and Bahrain.
It offers a variety of products and services covering four major areas: Personal Banking, Corporate and Investment Banking (CIB), AB Private Banking and Treasury, which serve the needs of individuals, corporations, government agencies and other international financial institutions.