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.
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.
Arab Banking Corporation (Bank ABC) has recorded a net profit of $100 million for 2021 compared to a net loss of $89 million the previous year, benefitting from a pick-up in activities across its core markets and much lower impairment charges.