Jordan’s Arab Bank group says 2016 net profit rose 20 percent
Loans book and customer deposits continue to grow despite exchange-rate fluctuations
Jordan’s largest lender, Arab Bank Group, said on Saturday its 2016 net profit rose 20 percent to $533 million, saying the results were due to diversified operations and growth in revenue from core banking activities.
The bank, one of the Middle East’s major financial institutions, said its loans book and customer deposits had continued to grow despite exchange-rate fluctuations.
Total loans rose 3 percent to $23.7 billion while deposits rose 3 percent to $33.6 billion at the end of last year compared with the same period the previous year.
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