May 02 2012
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Arab Bank Group's profit increase by 10% to $205m during first quarter
According to the bank's quarterly results, the bank's assets rose to $46.4 billion at the end of March this year from $45.6 billion at the end of December 2011. Clients' deposits also went up to $32.1 billion from $31.7 billion, the figure recorded in the first quarter of 2011. Chief Executive Officer Nemeh Sabbagh said the group continued to boost the soundness of its financial position and its effective risk management as its capital adequacy ratio reached14.95 per cent, higher than the 12 per cent minimum required by the Central Bank of Jordan and the 8 per cent minimum required by the Basel Committee.
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