Nine-month profit at Jordan’s Arab Bank barely changed

Jordan’s largest lender, Arab Bank Group, said its January-September net profit came to US$615.1 million, barely changed from $614.2m in the same period last year.

It said its loans book and customer deposits had continued to grow despite exchange-rate fluctuations.

One of the Middle East’s major financial institutions, Arab Bank Group said on Saturday that its total loans rose 2 per cent to $23.6 billion as of the end of September, while deposits had grown 5 per cent to $34.8bn compared with the same period last year.

The bank, with a balance sheet of $46.4bn, gave no figure for net profit in the third quarter alone.

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