Net income increased to USD115 mn despite fallout from COVID-19 pandemic; Balance sheet grew by
7.5% to USD7.89 bn; Corporate Banking and Treasury & Capital Markets portfolios up 6% and 13%, respectively; Improvement in key financial and risk metrics, including highest ever liquidity ratio (349%) and capital adequacy (31%).
The Arab Petroleum Investments Corporation (APICORP) (www.APICORP.org), a multilateral development financial institution, announces that its Board of Directors recommended to the General Assembly the approval of its financial results for the year ended December 31, 2020. Continuing its record performance, the Corporation posted a 3% year-on-year (y-o-y) rise in net income despite the fallout of the unprecedented COVID-19 global crisis – from USD112 mn in 2019 to USD115 mn in 2020.