Mubasher: The net profits after tax of Arab Bank Group jumped by 29.4% to $166 million in the first quarter (Q1) of 2022, compared to $128.3 million in the prior period.
The group recorded a 5% increase in its loan portfolio to $35.2 billion as of 31 March 2022 from $33.5 billion in the year-ago period, according to a recent press release.
Meanwhile, the customer deposits of the group reached $47.3 billion, up 3% from $45.8 billion.
Higher loans and deposits reflect the bank’s sustainable growth strategy to expand and diversify its clients and deposit base.
