Search Site

Trends banner

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Arab Bank Group net profit $829.6m

The Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2023. (Arab Bank)
  • Total Assets grew by 6 percent to reach $68.3 billion and loans grew by 5 percent to reach $37.1 billion.
  • The Board has recommended to the shareholders the distribution of 30 percent cash dividends for the financial year 2023.

Dubai, UAE: Arab Bank Group reported a 52 percent increase in net income to $829.6 million for the year ending Dec 31, 2023 as compared to $544.3 million in 2022.

The Group said in a statement that the performance was driven by sustainable growth in the underlying business across different markets, as net profit before provisions and tax improved by 34 percent to reach $1.81 billion.

Total Assets grew by 6 percent to reach $68.3 billion, loans grew by 5 percent to reach $37.1 billion, and deposits grew by 6 percent to reach $50.6 billion. While total Group equity stood at $11.4 billion.

In view of the solid results, the Board of Directors has recommended to the shareholders the distribution of 30 percent cash dividends for the financial year 2023.

Sabih Masri, Chairman of Arab Bank, commented that the bank’s strong underlying performance reflects the successful execution of its strategy which focuses on delivering sustainable growth and building a resilient business model capable of generating positive results, while dealing with the regional and international challenges.