APICORP reports $112 million net income for 2019

APICORP reports $112 million net income for 2019

Leverage (debt-to-equity ratio) remained in check reaching 2.13 in December 2019 compared to 2.07 in the same period last year, and capital adequacy improved slightly from 29.34% in 2018 to 29.6% in 2019.. Commenting on APICORP's results, Dr. Aabed bin Abdulla Al-Saadoun, chairman of the board of directors said: "As the world enters an unprecedented period of economic uncertainty, I am reassured by the fact that we have closed out the past year on a strong note.. Our balance sheet growth to USD7.35 billion in 2019 paves the way for APICORP to continue an upwards trajectory, notwithstanding the limitations that the current coronavirus crisis poses upon all sectors of the global economy.. I believe that the work that we have put into diversifying our portfolio in terms of sectors and geography as well as our broad investor base, coupled with our strong financial position, will serve us well in the coming years and allow us to address the current challenges.".