Arab Bank Group reports $152.1mln in net profit for H1 – ZAWYA

Arab Bank Group reports $152.1mln in net profit for H1 – ZAWYA

arab bank group reports $152.1mln in net profit for h1 customer deposits grew by 5% to reach $35.9bln    amman “” arab bank group reported net income after tax of $152.1 million for the first half of 2020 compared $453.2 million for the same period of the previous year, posting a drop of 66 per cent.in a statement, the arab bank group attributed the drop to the build up of higher provisions, driven by current and projected economic conditions.they also resulted from lower revenues of interest and fee income due to the impact of the covid-19 outbreak and lower market interest rates and weakening oil prices, the statement added.in a statement, the arab bank group attributed the drop to the build up of higher provisions, driven by current and projected economic conditions.amman “” arab bank group reported net income after tax of $152.1 million for the first half of 2020 compared $453.2 million for the same period of the previous year, posting a drop of 66 per cent.they also resulted from lower revenues of interest and fee income due to the impact of the covid-19 outbreak and lower market interest rates and weakening oil prices, the statement added.customer deposits grew