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Arab Bank PLC : Arab Bank Named Best Bank in Jordan by Euromoney for Sixth Consecutive Year

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06/02/2013 | 09:42am EDT

Arab Bank Named Best Bank in Jordan by Euromoney for Sixth Consecutive Year

02 Jun, 2013

Arab Bank was recognized as the Best Bank in Jordan by the international financial publication, Euromoney magazine, for the sixth consecutive year during the Euromoney 2013 Middle East Awards for Excellence ceremony held recently in Dubai.

The ceremony was attended by a number of leading bankers, representatives from the media and members of the awards jury which is comprised of a number of international experts and consultants from the global financial industry.

Euromoney recognized the Bank's exceptional financial performance and the leading role it plays in the banking and financial services industry in Jordan. Euromoney decides the winners by closely studying and evaluating a number of qualitative and quantitative factors including key industry performance indicators, financial ratios and innovation over a twelve-month period.

Mr. Nemeh Sabbagh, Arab Bank's Chief Executive Officer said, "This award is yet another international acknowledgment of Arab Bank's achievements in the local market and its effective contribution to the Jordanian banking industry. Being selected for the sixth consecutive year as the Best Bank in Jordan brings into light the Bank's solid financial performance and its unwavering commitment toward providing innovative banking services and solutions that meet the needs of a diverse base of customers."

"This high-profile international recognition is a testament to the Bank's exceptional achievements over the years and reinforces its leading position amongst the banking sector in Jordan and the Middle East," Mr. Sabbagh added. "Arab Bank will continue its journey of success by providing quality banking products and services to all corporate and individual customers at the highest standards, based on its solid banking foundations which distinguish it locally and regionally."

Arab Bank has recently gained many awards, including "Best Emerging Markets Bank in Jordan" in 2013 for the seventh consecutive year granted by Global Finance Magazine which specializes in financial and banking markets. Arab Bank was also granted the title of "Bank of the Year in Jordan" in 2012 by Financial Times Group's The Banker Magazine.

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Financials ($)
Sales 2019 1 852 M
EBIT 2019 872 M
Net income 2019 840 M
Debt 2019 -
Yield 2019 7,27%
P/E ratio 2019 7,11
P/E ratio 2020 6,57
Capi. / Sales 2019 3,16x
Capi. / Sales 2020 3,01x
Capitalization 5 847 M
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Average target price 9,95 $
Spread / Average Target 9,0%
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Nehme Elias Sabbagh Chief Executive Officer
Sabih Taher Darwish Al-Masri Chairman
Eric J. Modave Chief Operating Officer
Ghassan Hanna Sulaiman Tarazi Chief Financial Officer
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