Arab Bank’s Profit Increases 10.1%

AMMAN, 29 July 2007 — The Arab Bank Group, one of the Arab world’s largest banking establishments, yesterday announced a 10.1 percent increase in its semi-annual net profits after tax, to $370.4 million from $336.4 million in the first six months of 2006. “The group’s midyear results reflect a qualitative transition in performance and an excellent administration of financial resources,” Arab Bank Chairman Abdul Hamid Shoman said. Shoman also reported a 20 percent growth in the Arab Bank Group’s assets, to $35.7 billion from $29.8 billion a year ago.