The Chairman of the Board of the Arab Bank Group, Abdul-Majeid Shoman, said that the bank’s net income in 2001 passed the quarter million dollar mark for the first time, reported Al-Hayat . The bank’s net income volume hit $250.6 million last year, a four percent increase compared with 2000. Shoman added that the Arab Bank succeeded in raising its pre-tax profits to $312.3 million in 2001, up from $308.4 million in the previous year in spite of the negative economic impacts caused by the September 11 terrorist attacks on the United States. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
