The Arab Bank recorded a 36% decline in first-quarter earnings 2020 to reach $ 147.6 million after taxes and provisions, compared to $ 231.8 million in the same period in a year. 2019. According to Al-Bayan, the bank maintained a solid capital base, with total equity amounting to $ 9.2 billion at the end of the first quarter. The financial results are a clear indication of the strength and effectiveness of the bank's business model based on diversification of business regionally and globally, and he indicated that the next stage, It will be a difficult stage for the global economy, and it will witness a slowdown in growth, and difficulties in many sectors, as a result of the outbreak of the Corona epidemic as 19, but there is great confidence in the Arab Bank Group, and its ability to deal with various conditions and areas. He said that the bank has dealt with many challenges in previous years, and demonstrated the effectiveness of its strategy and its overcoming of many of the economic crises the world has witnessed. Naama Sabbagh, the bank’s executive general manager, confirmed the bank’s ability to manage its assets in various major sectors and labor markets, and indicated that the bank has deducted additional provisions against the working debt portfolio For some economic sectors, as a precautionary measure, as a result of the economic conditions resulting from the Corona epidemic 19, which affected the bank's financial results, knowing that the bank's net operating profit amounted to $ 337 million, and a decline of no more than 2% from the same period in the previous year. < / p>
