Jordan: Arab Bank nets $217 m in first quarter

02-05-2016 01:27 PM

Ammon News - AMMONNEWS - The Arab Bank has netted $217 million profit during the first quarter of the year, with operation revenues rising by %5, bank results showed on Monday.

Credit facility increased by %3 to reach $24.4 billion, compared to $23.7 billion during the same period of last year, said the bank.

The records also showed that cash deposits have also jumped to reach more than $34 billion, an increase of more than one billion compared to the same period of 2015, representing %2 rate growth, said the bank in a statement. Bank CEO Sabeeh al Masri said the bank has managed to maintain stable performance "despite the challenging operation environment of the bank." Masri said the bank relies on solid financial strategy and aims to maintain its stable performance during the current fiscal year.

The Arab Bank is Jordan's largest financial institution and one of the biggest and oldest in the Middle East region.

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