Arab Bank Boosts Profit by 44.3%

AMMAN, 20 July 2006 — The Arab Bank Group’s profits in the first six months of the year grew by 44.3 percent, to $426.5 million from $295.5 million in the same period of 2005, the Arab Bank Chairman Abdel Hamid Shoman announced on Tuesday. The Arab Bank branches operating in Jordan also managed to increase their profits by 63.3 percent in the first half of the year, to 61.6 million dinars ($87 million) from 37.7 million dinars ($53 million) in the first six months of 2005, Shoman said.