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The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, on Wednesday posted net income for 2021 of $99.6 million, down 13 percent from $115 million in 2020.
The bank, headquartered in Saudi Arabia, said its corporate banking portfolio increased 19 percent to $4.6 billion. Assets grew slightly y-o-y to 8 billion.
Total comprehensive income for the year was just under $112.9 million, up from $90.6 million in 2020.
Return on assets and return on equity at year-end were 1.3 percent and 3.9 percent, respectively, while non-performing loans fell to 0.55 percent from 0.59 percent over the period.
(Reporting by Brinda Darasha; editing by Seban Scaria)
