Arab Bank’s half-year profits grow 20% to $ 182 million

The Arab Bank Group achieved a net profit after taxes and provisions of $ 182.4 million for the period ending June 30, 2021, compared to $ 152.1 million in the corresponding period of 2020, with a rate of growth of 20%. maintained a total equity capital base of $ 10.3 billion at the end of the first half of 2021.

Sobeih Al-Masry, chairman of the board, said the bank’s financial results in the first half of questyear show the inherent strength of the model’s diversity business of the bank and its prudent approach to managing all variables and risks and achieving a better level of profitability in light of the Corona pandemic.

He affirmed his confidence in Arab Bank’s ability to overcome challenges and continue to achieve the best results and achievements at various levels, praising the institutional approach adopted by the Arab Bank Group in the field of sustainable community development.

For his part, Nehme Sabbagh, Executive General Manager of Arab Bank, said that the Arab Bank’s results during the first half of 2021 confirm the bank’s ability to work strategically according to an effective risk management approach in the face of challenges.

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