Arab Bank Group delivered strong financial performance in the first nine months of this year, reporting net income after tax of $405.8 million as compared to $271.7 million for the same period last year with an increase of 49%.

The Group’s core banking activities kept up the momentum in most areas of operations delivering solid underlying growth in loans and deposits.  At the end of September 2022, loans were up by 4% from September 2021 level to reach $35.6 billion, while deposits reached $47.8 billion, up by 3% from the 2021 level.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that the strong performance shows the growth potential and resilience that diversification brings to the Bank despite the challenging economic environment. Mr. Masri expressed his confidence in the Bank’s ability to continue to grow based on its sound strategy, while maintaining the strength of its balance sheet.

Ms. Randa Sadik, Chief Executive Officer, stated that the underlying results reflect Arab Bank’s earnings capacity strength with 13% growth in net operating income across the Bank’s lines of business. This is primarily driven by the increase in total net interest and commission income; in addition to the controlled operating expenses. Ms. Sadik added that the Group’s liquidity and asset quality remains solid where loan-to-deposit ratio stood at 74.3%, and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains strong capital base that is predominantly composed of common equity with capital adequacy ratio of 16.4%.

Ms. Sadik noted that Arab Bank is on track to deliver its strategic digital transformation objectives, providing a comprehensive range of banking solutions and seamless customer experiences across the network and segments.

Earlier this year, Arab Bank was named “Best Bank in the Middle East 2022” for the seventh consecutive year by New York-based international publication “Global Finance”.

Arab Bank has recently received the “Best Bank in the Middle East 2022” award by New York-based international publication “Global Finance”, for the seventh year in a row. 


This global recognition came as part of Global Finance’s 29th Annual Best Bank Awards and was made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting top banks, Global Finance considered several factors that included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Winning criteria also included the banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success.


Commenting on this recognition, Ms. Randa Sadik, Arab Bank’s Chief Executive Officer said: “This global recognition received for the seventh consecutive year is yet another addition to Arab Bank’s significant success record. It is a manifestation of the bank’s ambitious strategic vision and distinctive ability to deal efficiently with the most pressing regional and global challenges.” Sadik added: “At Arab Bank, we are committed to deploying advanced and comprehensive banking solutions that meet the evolving needs of our customers across various sectors, while constantly enriching their banking experience. This is realized through the bank’s relentless focus on aligning its various services and value propositions with the latest advancements in the financial industry locally, regionally and globally.”


Global Finance Awards cover more than 150 countries and territories across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe. 


It is worth mentioning that Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches spanning five continents. Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney, Dubai and Bahrain.