Apr 18 2012
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ABK records profit of KD 11.4 million - Continuous progress in difficult conditions
"The strong capital base and the Capital Adequacy Ratio of around 25% enhance the Bank's ability to grow and expand its operations under the current market conditions. The Bank's success in maintaining its credit ratings issued by the international credit rating agencies enhances the confidence in the strong capital position of the bank and its ability to tolerate risks and achieve profits", added Behbehani.
The Bank periodically reviews and amends its strategy to cope with any exceptional, conditions and the prevailing economic conditions. It focused on minimizing risks across our business areas, improving operational efficiency and enhancing value for our shareholders and customers, providing high quality banking services, and employing high caliber banking staff to service ABK customers.
"The economic conditions in the area are still difficult in the light of the political turmoil in some countries of the Middle East and the stressed economies in Euro zone. The situation may become more difficult, with the economic recession, volatility of markets, slow growth of world and regional economies. However, the effective risk management and tight control over the loan portfolio will minimize the risks and maintain the strong financial position of ABK and enhance its ability to achieve good profits for its shareholders". He concluded his statement by expressing his hope to accelerate the launch of new development projects which will push forward the economy wheel to which we are looking forward.
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