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Jordan’s Arab Bank group H1 net profits drop 66% to…

AMMAN, July 25 – Jordan’s largest lender, Arab Bank Group, reported a 66% year-on-year drop in first-half net profit to $152.1 million, saying its revenues were hit by the impact of the COVID-19 pandemic on the regional and global economies.

The bank, one of the Middle East’s major financial institutions, also said on Saturday that total loans rose 2% to $26.7 billion as of the end of June, while deposits climbed 5% to $35.9 billion. Group equity stood at $9.2 billion, it said (Reporting by Suleiman Al-Khalidi; Editing by Mark Potter)

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