Finance Arab Bank plans 40% dividend after record 2024 profit By Pramod Kumar February 2, 2025, 9:46 AM Arab Bank Group Total assets grew by 6 percent year on year to $71.2 billion, while loans increased by 6 percent annually to $38.3 billion The board of Jordan’s Arab Bank Group has proposed a dividend of 40 percent for 2024 after profit reached a record high. Net profit rose 21 percent to more than $1 billion in 2024 compared to $829.6 million in 2023. The profit rise was driven by growth across various business segments and geographic markets. Operating profit increased by 7 percent to $2 billion, thanks to interest and non-interest income. Total assets grew by 6 percent year on year to $71.2 billion, while loans increased by 6 percent annually to $38.3 billion. Additionally, customer deposits rose by 5 percent year on year to $52.2 billion. Bank chairman Sabih Masri said Arab Bank Iraq will commence operations this year. CEO Randa Sadik said the bank’s liquidity and asset quality remain solid, with the loan-to-deposit ratio at 73 percent and credit provisions against non-performing loans exceeding 100 percent. The financial statements are subject to the approval of the Central Bank of Jordan. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
