Tag Archives: Arab Bank Group reports first quarter 2021 net profit of $128.3 million

Arab Bank Group reports first quarter 2021 net profit of $128.3 million

Arab Bank Group reports first quarter 2021 net profit of $128.3 million

Dubai, UAE, 1May 2021:Arab Bank Group has consolidated the financial statements of Oman Arab Bankunder Group accounts in the first quarter of 2021.Oman Arab Bank has also recently finalized the acquisition of Al Izz Islamic Bank,a full-fledged Islamic bank,accordingly strengthening its presence in the Sultanate of Oman, in line withArab Bank’s strategy to reinforce its business in the Gulf region.The consolidation of Oman Arab Bank under the Group accounts has materially increased the size of Group balance sheet duringthis period, with total assets increasing by $8.1 Billion and loans and depositseach increasing by $7.1Billion.

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