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FinancialNews


  • 30-01-23

    Jordan’s Arab Bank records 73 percent rise in revenue to USD544M last year

    (MENAFN) Jordan’s largest lender Arab Bank has recorded 73 percent jump in revenue to stand at USD544 million last year, in comparison with USD314.5 million last year, triggered by strong expansion in its core banking business throughout several markets.

    After surged operating revenue, Arab Bank’s net income before supplied and tax rose by 23 percent to amount to USD1.35 billion last year, the bank mentioned in a press announcement.

    Randa Sadik, chief executive of Arab Bank, asserted that bank showed maintainable expansion rates throughout last year in spite of the financial obstacles stemming from peak inflation, surged interest rates as well as the devaluation in trading rates of many currencies versus the US dollar.

    She additionally pointed out that Arab Bank group’s liquidity and asset quality stay powerful where the loan-to-deposit ratio reached an amount of 74.2 percent and credit provisions held on contradiction of nonperforming loans carry on to surpass 100 percent.

    It need to be pointed out that the Arab Bank’s last year economic statements are subject to the acceptance of the Central Bank of Jordan.

    MENAFN30012023000045014228ID1105493538

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