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Arab Bank of Jordan Reports Robust Loan Growth

Arab Bank

Jordan’s Arab Bank Group, the leading lender in the country, reported loan growth with a 15% increase in net profit for 2014 to $577 million, as reported by Reuters. Even though there was volatility in foreign currencies, its diversified holdings provided protection against a shortfall. Deposits increased 2%, and loans and advances grew by 3%. With an adjustment for the impact of exchange rates, the loans and deposits grew by 9% and 7% respectively, according to AME Info.

The quality of loans were also strong, according to Nemeh Sabbagh, CEO of Arab Bank, with the number of non-performing loans decreasing. The operating income, and liquidity were also strong points, and the loan to deposit ratio was  67.7%.

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