{"id":4282,"date":"2024-07-28T02:09:07","date_gmt":"2024-07-27T23:09:07","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=4282"},"modified":"2024-07-28T02:11:20","modified_gmt":"2024-07-27T23:11:20","slug":"arab-bank-group-profits-grow-by-25-to-503million-for-the-first-half-of-2024","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=4282&lang=en","title":{"rendered":"ARAB BANK GROUP PROFITS GROW BY 25% TO $ 503MILLION FOR THE FIRST HALF OF 2024"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Arab Bank Group reported solid results for the first half of 2024, <\/span><span style=\"font-weight: 400\">with 25% increase in net income after tax reaching $503 million as compared to $401 million for the same period last year. The Group maintained its strong capital base with a total equity of $11.5 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Assets grew by 5% reaching $68.7 billion and at constant currency, the Group\u2019s loans grew by 8% to reach $38.1 billion, and deposits grew by 6% to reach $50.5 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Mr. Sabih Masri, Chairman of the Board of Directors, stated that the solid financial performance during the first six months underscores the successful execution of the bank\u2019s prudent risk practices, diversified business model and its focus on core banking activities.<\/span> <span style=\"font-weight: 400\">Mr. Masri emphasized on the Group\u2019s ability to continue achieving robust performance which reinforces its leading position in the market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ms. Randa Sadik, Chief Executive Officer, stated that the strong financial results reflect the bank\u2019s robust assets base and strong capitalization. Ms. Sadik highlighted that the bank\u2019s net operating profit grew by 11% driven by core banking activities coupled with controlled operating expenses. The bank continues to implement its digital strategy, expanding the offering of innovative digital solutions across the bank\u2019s various business segments.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ms. Sadik added that the bank\u2019s balance sheet strength, solid capitalization, and high liquidity levels have well positioned the bank for sustainable growth. The Group\u2019s loan-to-deposit ratio stood at 75.4% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 17.5%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Arab Bank has recently received the \u201cBest Bank in the Middle East 2024\u201d award from New York-based international publication \u201cGlobal Finance\u201d, for the ninth consecutive year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arab Bank Group reported solid results for the first half of 2024, with 25% increase in net income after tax reaching $503 million as compared to $401 million for the same period last year. The Group maintained its strong capital base with a total equity of $11.5 billion. Assets grew by 5% reaching $68.7 billion [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[47,39,130,15,119],"tags":[],"class_list":["post-4282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banks-insurance-en","category-business-economy-en","category-featured-en","category-press-releases","category-success-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ARAB BANK GROUP PROFITS GROW BY 25% TO $ 503MILLION FOR THE FIRST HALF OF 2024 - sahfy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sahfy.net\/news\/?p=4282&lang=en\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARAB BANK GROUP PROFITS GROW BY 25% TO $ 503MILLION FOR THE FIRST HALF OF 2024 - sahfy\" \/>\n<meta property=\"og:description\" content=\"Arab Bank Group reported solid results for the first half of 2024, with 25% increase in net income after tax reaching $503 million as compared to $401 million for the same period last year. The Group maintained its strong capital base with a total equity of $11.5 billion. Assets grew by 5% reaching $68.7 billion [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sahfy.net\/news\/?p=4282&amp;lang=en\" \/>\n<meta property=\"og:site_name\" content=\"sahfy\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-27T23:09:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-27T23:11:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sahfy.net\/news\/wp-content\/uploads\/2024\/07\/arab_bank-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u0634\u0645\u0633 \u0633\u064a\u0641\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u0634\u0645\u0633 \u0633\u064a\u0641\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u062f\u0642\u0627\u0626\u0642\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sahfy.net\/news\/?p=4282&lang=en#article\",\"isPartOf\":{\"@id\":\"https:\/\/sahfy.net\/news\/?p=4282&lang=en\"},\"author\":{\"name\":\"\u0634\u0645\u0633 \u0633\u064a\u0641\",\"@id\":\"https:\/\/sahfy.net\/news\/#\/schema\/person\/91cd73583b1f7f4e783fef6ae28649a9\"},\"headline\":\"ARAB BANK GROUP PROFITS GROW BY 25% TO $ 503MILLION FOR THE FIRST HALF OF 2024\",\"datePublished\":\"2024-07-27T23:09:07+00:00\",\"dateModified\":\"2024-07-27T23:11:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sahfy.net\/news\/?p=4282&lang=en\"},\"wordCount\":296,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sahfy.net\/news\/#organization\"},\"articleSection\":[\"Banks &amp; 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