Jordan’s Arab Bank group H1 net profits drop 66% – ZAWYA

Jordan’s Arab Bank group H1 net profits drop 66% – ZAWYA

jordan's arab bank group h1 net profits drop 66% lower interest rates and weakening oil prices hurt revenues    a general view of the arab bank in amman, jordan, october 25, 2017.amman: jordan's largest lender, arab bank group, reported on saturday a 66% year-on-year drop in first-half net profit to $152.1 million as it set aside more money to cope with the economic fallout of the covid-19 pandemic.chief executive officer nemeh sabbagh did not give a figure for the provisions, but said the bank had decided to set aside "significantly more" money to cover the "deterioration in the macro-economic environment throughout the region and globally."the provisions would also cover the bank's operations in lebanon, where the economy is in crisis, he added.chief executive officer nemeh sabbagh did not give a figure for the provisions, but said the bank had decided to set aside "significantly more" money to cover the "deterioration in the macro-economic environment throughout the region and globally."amman: jordan's largest lender, arab bank group, reported on saturday a 66% year-on-year drop in first-half net profit to $152.1 million as it set aside more money to cope with the economic fallout of the covid-19 pandemic.the provisions would also cover the