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Emirates Business
Arab Bank Group announced its results for first quarter of 2019 reporting 5.2% growth in net profit after tax of $231.8 million as compared to $220.3 million in 2018, with net income before tax increasing by 9.1% to reach $312.8 million. Group equity stood at $ 8.5 billion, while loans increased to $25.8 billion and deposits to $33.7 billion.
Sabih Masri, Chairman of Board of Directors stated that performance of Arab Bank Group confirms success of the Group in generating strong results despite the backdrop of the challenging operating environment.
Nemeh Sabbagh, CEO, stated that underlying performance of Group continues on its growth path with first quarter results recording a healthy increase in net operating income.