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Bank ABC net profit for 2023 surges 53% to $235m

Bank ABC has reported a 53% jump in its annual net profit attributable to its shareholders which soared to $235 million on the back of strong core business growth and a stable funding base, combined with interest rate tailwinds and steady cost of credit.

Al manamahEl kaberSaddek omar el kaberTradearabia news serviceArab banking corporationAnnual generalGroup chairman saddek omar el kaberFinancial timesTradearabia newsRade arabiaIddle east trade newsCc business newsNdustry newsTrade newsUsiness directoryRoject news

Bank ABC net profit for 2023 surges 53% to $235m

Bank ABC has reported a 53% jump in its annual net profit attributable to its shareholders which soared to $235 million on the back of strong core business growth and a stable funding base, combined with interest rate tailwinds and steady cost of credit.

Al manamahSaddek omar el kaberEl kaberTradearabia news serviceArab banking corporationAnnual generalGroup chairman saddek omar el kaberFinancial timesTradearabia news

Bank ABC profit up 54pc; operating income hits record $1bn

Bank ABC (Arab Banking Corporation) has announced that its net profit for 2022 rose to $154 million, up 54% over the previous year, while its total operating income crossed the historic $1 billion mark with a significant 29% headline growth.

Al manamahSaddek omar el kaberEl kaberBlom bank egyptArab banking corporationTradearabia news serviceKey performance indicatorsChairman saddek omar el kaberTradearabia newsRade arabiaIddle east trade newsCc business newsNdustry newsTrade newsUsiness directoryRoject news

Bank ABC completes legal merger of key Egyptian subsidiaries

Bank ABC (Arab Banking Corporation) said it has completed the legal merger of its two Egyptian subsidiaries - Blom Bank Egypt and Bank ABC Egypt. The merger comes following the Bahraini bank’s acquisition of a 99.5% stake in Blom Bank Egypt last year.

Al manamahSaddek omar el kaberAmr tharwatEl kaberSael al waaryBlom bank egyptArab banking corporationCentral bankArab financial servicesTradearabia news serviceAuthority for investmentBank egyptGeneral authorityFree zonesChairman saddek omar el kaberTradearabia news

War-torn Libya needs 40% more oil output to ensure country s reconstruction

War-torn Libya needs 40% more oil output to ensure country s reconstruction
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