Jordan’s Arab Bank reports 73% surge in 2022 net profit – The National

Jordan’s Arab Bank reports 73% surge in 2022 net profit – The National

Arab Bank, Jordan’s biggest lender, reported a more than 73 per cent jump in its 2022 net profit as operating income rose, driven by “robust growth” in its core banking business across markets.

Net profit for the 12-month period to the end of December rose to $544.3 million compared to $314.5 million in 2021, the bank said in a statement on Saturday.

Operating income for the period was up 23 per cent on higher revenue from its core banking business, its diversified sources of income, with a focus on non-interest income, as well as controlling operating expenses in line with the bank's prudent strategy, the lender said.