January 27, 2018 / 3:12 PM / 22 days ago

Jordan's Arab Bank group says 2017 net profit unchanged at $533 mln

AMMAN, Jan 27 (Reuters) - Jordan’s largest lender, Arab Bank Group, said on Saturday its 2017 net profit came to $533 million, barely changed from $532.7 million with revenues coming mainly from core banking activities.

The bank, one of the Middle East’s major financial institutions, said operational profits rose 12 percent without factoring exchange-rate fluctuations.

Total loans rose 6 percent to $25.1 billion while deposits rose slighty to $33.8 billion at the end of last year compared with $33.6 billion in the same period the previous year. (Reporting by Suleiman Al-Khalidi Editing by Jeremy Gaunt)

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