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Arab Bank plans 40% dividend after record 2024 profit  

Architecture, Building, Office Building 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.