Latest news with #ArabBank


Gulf Business
20 hours ago
- Business
- Gulf Business
Arab Bank posts solid H1 2025 results with $535.3m in net income
Arab Bank Headoffice/Image: Supplied Arab Bank Group reported strong financial results for the first half of 2025, recording a 6 per cent increase in net income after tax to $535.3m, up from $502.8m during the same period last year. The bank also maintained a robust capital position, with total equity reaching $12.5bn. The Group's assets expanded by 9 per cent to $75.2bn. Loans rose to $39.8bn, reflecting a 6 per cent increase, while deposits climbed 9 per cent to reach $55.3bn. Commenting on the results, Sabih Masri, chairman of the board of directors, stated that 'the strong results achieved in the first half of 2025 are a clear testament to the effectiveness of the bank's strategy and the resilience of its operating model.' He added that 'despite ongoing economic headwinds and regional geopolitical uncertainties, the bank continued to prudently grow its operations and deliver sustainable growth and healthy returns for shareholders.' Looking ahead, Masri affirmed the bank's long-term direction: 'The bank's commitment to executing its integrated corporate strategy and long-term vision, with a clear focus on meeting the evolving expectations of both shareholders and clients.' Merger Masri also highlighted that Arab Bank Switzerland successfully completed the merger of Gonet & Cie SA ('Gonet') and ONE swiss bank SA ('ONE'), enhancing its presence in Switzerland and other global markets. Following the merger, Arab Bank Switzerland Group's assets under management grew to CHF18bn ($22bn). Randa Sadik, chief executive officer, commented on the bank's performance: 'The underlying performance of the Group continues its growth trajectory with first half results recording a healthy increase of 5 per cent in revenue while maintaining a solid balance sheet growth of 9 per cent.' Read: Sadik further emphasised the bank's prudent approach to liquidity and asset quality: 'The Group's loan-to-deposit ratio stood at 72 per cent and credit provisions held against non-performing loans continue to exceed 100 per cent.' She added that the bank's capital adequacy ratio stood at 17.1 per cent, with a capital base primarily composed of common equity. Arab Bank's ongoing strength and strategic vision have also earned it recognition on the global stage.


Al Bawaba
3 days ago
- Business
- Al Bawaba
Arab Bank Group Profits Grow by 6% to $535 Million for the First Half of 2025
Arab Bank Group reported solid results for the first half of 2025, with 6% increase in net income after tax reaching $535.3 million as compared to $502.8 million for the same period last year. The Group maintained its strong capital base with a total equity of $12.5 Group's Assets grew by 9% to reach $75.2 billion, loans of $39.8 billion showed a net growth by 6%, and deposits grew by 9% to reach $55.3 on the bank's performance, Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong results achieved in the first half of 2025 are a clear testament to the effectiveness of the bank's strategy and the resilience of its operating model. He noted that despite ongoing economic headwinds and regional geopolitical uncertainties, the bank continued to prudently grow its operations and deliver sustainable growth and healthy returns for ahead, Mr. Masri affirmed the bank's commitment to executing its integrated corporate strategy and long-term vision, with a clear focus on meeting the evolving expectations of both shareholders and clients."Mr. Masri emphasized that Arab Bank Switzerland completed the merger of Gonet & Cie SA ('Gonet') and ONE swiss bank SA ('ONE') and strengthen its presence in Switzerland and operational entities abroad. Arab Bank Switzerland Group assets under management increased to reach CHF 18 Randa Sadik, Chief Executive Officer, stated that the underlying performance of the Group continues its growth trajectory with first half results recording a healthy increase of 5% in revenue while maintaining a solid balance sheet growth of 9%.Ms. Sadik emphasized that the bank remains focused on maintaining high liquidity and preserving its high asset quality. The Group's loan-to-deposit ratio stood at 72% 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 17.1%. It is worth mentioning that Arab Bank has recently received the "Best Bank in the Middle East 2025" award from New York-based Global Finance magazine, a testament to its leading position in the regional banking sector. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.


Mid East Info
15-07-2025
- Business
- Mid East Info
Oman Arab Bank Launches Travel Loan Campaign to Empower Holiday Seekers - Middle East Business News and Information
Muscat. 15 July Arab Bank (OAB) has announced the launch of its highly anticipated Travel Loan Campaign, tailored to help customers embrace the joy of travel—whether within Oman during the picturesque Khareef season in Salalah or abroad for international adventures. The campaign reflects the Bank's ongoing commitment to delivering customer-centric financial solutions that enhance quality of life and offer greater lifestyle flexibility. The Travel Loan offers customers the opportunity to borrow between OMR 1,000 and OMR 5,000 with an attractive interest rate of 4.5%, and flexible repayment terms of up to 12 months. To further reward customers, the campaign includes a two-year annual fee waiver on OAB credit cards for eligible applicants. Special benefits await those heading to Salalah for Khareef, including 20% cashback on fuel spent at Oman Oil and Shell stations during selected weekends in July and August. In addition, customers can access exclusive offers on hotels, dining, cafés, and car rentals in the Dhofar region, making their trip even more enjoyable and cost-effective. International travelers are not left behind. The campaign also includes complimentary travel insurance, offering peace of mind for customers flying abroad, ensuring safety and convenience remain a priority. Mr. Juma Al Fulaiti, Deputy Head of Retail Banking at OAB, commented, 'At OAB, we believe travel is more than leisure—it's an opportunity to connect, explore, and grow. Through this Travel Loan campaign, we're proud to provide financial solutions that allow our customers to experience new destinations without the burden of financial constraints. Whether it's enjoying the lush beauty of Salalah or discovering the world beyond, we want our customers to indulge, while also creating a slew of unforgettable memories with their families and loved ones.' Customers can apply for the Travel Loan conveniently via the OAB Mobile App or by visiting their nearest branch. This initiative is part of OAB's broader strategy to offer flexible, relevant, and rewarding financial products that align with customers' evolving needs and aspirations.

Ammon
10-07-2025
- Business
- Ammon
Minister: Jordan offers investors access to economies with combined GDP of $50 trillion
Ammon News - Minister of Investment Mothanna Gharaibeh said Jordan offers investors access to economies with a combined GDP of $50 trillion through various free trade and bilateral agreements spanning multiple continents. According to a statement from the Ministry on Thursday, Gharaibeh made the remarks while attending the economic forum held Wednesday in Singapore under the title "Jordan: Your Gateway to Human Talent, Competitive Costs, Resilience, and Global Markets." The forum was organized in partnership with the Arab Bank and the Jordanian Embassy in Singapore, with participation from global companies, sovereign wealth funds, and leading economic institutions across diverse sectors. Gharaibeh emphasized Jordan's strategic location and robust infrastructure, which provide easy access to neighboring markets. He noted the Kingdom's critical role in supporting global food security, especially through its fertilizer industry, alongside growing sectors such as food processing, pharmaceuticals, apparel, and electronics. He highlighted that Jordan's ICT companies contribute to a 19 percent annual increase in digital jobs, citing Singaporean firms that have chosen Jordan as a hub for regional and global expansion. Gharaibeh pointed out that a feasibility study by IBM's semiconductor division showed Jordan offers the highest profitability among evaluated locations, with a low-risk operating environment compared to key competitors. He reaffirmed the government's steady progress in implementing the Economic Modernization Vision to drive accelerated growth, position Jordan as a regional industrial hub, increase national exports, optimize the use of natural resources, stimulate domestic and foreign investment, and strengthen sustainable practices. Jordan's Ambassador to Singapore, Samer Naber, underlined the essential role diplomatic missions play in promoting investment opportunities, leveraging their networks with local and foreign investors, sovereign and private funds, and venture capital firms. He noted that the forum's collaboration with the Arab Bank exemplifies the public-private partnership model that Jordan is pursuing. During a forum session, Naber discussed Jordan's green energy strategy, alternative energy projects, and the national climate change policy for 2022–2050, along with commitments to reduce carbon emissions and the green bonds framework being finalized under the Central Bank's supervision. He stressed the importance of tapping into Singapore's international partnerships in green energy and attracting Singaporean investments in this sector in the Middle East and Jordan. Arab Bank's CEO, Randa Sadik, affirmed the bank's commitment to supporting national efforts to promote Jordan as an attractive investment destination and strengthen public-private collaboration at home and abroad. She emphasized the strategic role of the banking sector in driving economic growth through comprehensive financing solutions and leading banking services to meet investors' needs, attract capital, and foster sustainable development. The forum aimed to promote Jordan's investment environment and highlight the Kingdom's key advantages, including a skilled workforce, competitive operating costs, strategic location, and flexible market access to regional and international destinations. Panel discussions featured success stories from investments in Jordan, with contributions from Jordan Phosphate Mines Company investor Manish Gupta, who noted that a quarter of India's cultivated food is grown using Jordanian fertilizers. Arab Potash Company Chairman Shehadah Abu Hdaib and CEO Maen Nsour, Aqaba Development Corporation CEO Hussein Safadi (virtually), and Marie Miller, Director of Government Relations and Strategic Partnerships at Bigo Technology, also spoke, sharing how their companies have created thousands of jobs in Jordan's ICT sector. During his visit to Singapore, Gharaibeh will meet with Singapore's Second Minister of Trade and Industry, Tan See Leng, to discuss ways to boost bilateral economic cooperation and promote Jordan as a gateway for Singaporean companies expanding regionally and globally. He will also hold meetings with senior executives from sovereign wealth funds and major corporations, including GIC, Temasek Holdings, the Economic Development Board (EDB), and global firms such as ST Engineering, Accuron Technologies, OUE Limited, and Meinhardt Group. Petra


Zawya
08-07-2025
- Business
- Zawya
Arab Palestinian Investment Co places 5-year bonds worth $120mln
Arab Palestinian Investment Company (APIC) has issued five-year corporate bonds in three tranches denominated in the US dollars, Jordanian dinars, and Euro for a total value of $120 million, of which $76.7 million, 22.64 million dinar and €10 million through a private placement. Arab Bank, Cairo Amman Bank, Quds Bank, Bank of Palestine, Bank of Jordan, Jordan Ahli Bank, the Housing Bank for Trade and Finance, the Palestine Deposit Insurance Company and the International Finance Corporation (IFC) participated in the offering. The proceeds of the issuance will be used to support the company's capital and expand investments in the region. Earlier in May, APIC's shareholders approved the issuance of corporate bonds with a total nominal value of up to $110 million with an option to increase it to $120 million. The Palestine Exchange-listed APIC is a diversified investment company and invests across sectors in Palestine, Jordan, Saudi Arabia, the UAE, Iraq and Turkey.