Arab Bank Group net profits grow by 15.6 per cent in nine months

Arab Bank Group net profits grow by 15.6 per cent in nine months
Posted Oct 27, 2007 by dpa news in Business | 91 views
Arab Bank Group, one of the Arab world's largest banking companies, achieved net post-tax profits of 572 million dollars in the first nine months of 2007, up 15.6 per cent over the same 2006 period, company chairman Abdul Hamid Shoman said Saturday.

Shoman attributed the profit growth to such policies as the diversification of investments, development of operations and the geographical expansion of branches.

The group's total assets grew by 22 per cent in the first three quarters of the year to 37.2 billion dollars. dpa ajm ds


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