Arab Bank attains $615mn profits in nine months

The Arab Bank has achieved nine-month profits after taxes estimated at US$615.1 million versus US$614.2 million in the same period of 2014. Arab Bank’s  profits before taxes worth US$818.7.

According to a statement released by the bank Saturday, shareholders’ equity reached US$8.2 billion at the end of September 2015 due to the growth in bank’s profits.

The total volume of Arab Bank’s credit facilities boosted to US$23.6 billion while clients’ deposits recorded US$34.8 billion during the first nine months of 2015.

The statement showed that the portfolios of credit facilities and clients’ deposits have been increased by 2 percent and 5 percent respectively compared to the earlier year.

Moreover, Chairman Sabih Masri noted that Arab Bank is committed to executing its strategy to achieve the best results and to be able to overcome the obstacles it faces through determined framework which is depending on solid financial basis to cope with the rapid changes of the markets.