Jordanian Arab Bank 's Diverse Business Nudges Up Profit
Arab Bank
Amman - QNA
Jordan-based Arab Bank has announced an increased profit of US$424.9 million for the first half of this year compared with the $422.9 million it recorded for the same period last year.
The group said results were driven by the bank's diversified business model allowing it to withstand volatile market conditions. Loans and advances reached $24.2 billion with customer deposits stable at $34.8 billion; both loans and customer deposits grew by 3%.
The bank admitted that conditions were challenging and required focus and vigilance with the long-term implications of the Brexit decision still unknown.
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