Arab Banks’ Profit To Hit $38bn By 2012-End

Arab banks are expected to post net profits of $38 billion by end of 2012 financial year, a three per cent increase from last year, said Union of Arab Banks chairman Adnan Yousif.

“The results are good given the crucial situation the global economy has gone through. The absence of trust in the world economy will represent a psychological obstacle for investors in all economic sectors, which will reflect on the performance of institutions,” he said.

He described Bahrain’s banks’ performance as “outstanding” compared to other Arab banks, thanks to abundance of cash liquidity and high financial solvency ratios, reports our sister paper Akhbar Al Khaleej.

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