May 13, 2020 / 2:43 PM / 13 days ago

Arab Bank group Q1 net profit drops 36% to $147.6 mln - statement

AMMAN, May 13 (Reuters) - Arab Bank Group, Jordan’s largest lender, said on Wednesday its first-quarter net profit dropped 36 % to $147.6 million, compared to $231.8 million a year earlier, but loans and customer deposits continued to grow.

The bank, one of the Middle East’s major financial institutions, said in a statement loans grew 2 percent to $26.2 billion and deposits rose 5% to $35.2 billion compared with the same period last year. (Reporting by Suleiman Al-Khalidi; editing by David Evans)

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