Jordan's Arab Bank Group H1 profits up 20 %

Customer deposits climbed 28% to $46bln as of the end of June

  
Image used for illustrative purpose. People walk in front of Arab Bank in downtown Cairo, Egypt July 25, 2017.

Image used for illustrative purpose. People walk in front of Arab Bank in downtown Cairo, Egypt July 25, 2017.

REUTERS/Amr Abdallah Dalsh

AMMAN - Arab Bank Group, Jordan’s largest lender, said on Sunday its first-half net profit rose by 20% to $182.4 million, adding that its results showed its resilience in the face the COVID-19 pandemic.

The bank, one of the Middle East’s major financial institutions, said in a statement that its assets stood at $63 billion at the end of June, a rise of $8.2 billion after consolidating its financial statements with its subsidiary Oman Arab Bank.

Customer deposits climbed 28% to $46 billion as of the end of June, while loans rose 27% to $33.8 billion. Group equity stood at $10.3 billion, it said.

(Reporting by Suleiman Al-Khalidi) ((suleiman.al-khalidi@thomsonreuters.com; +96279-5521407;))


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