An established name that stands for excellence in banking, Bank ABC has innovation at its core and is guided by a mission to develop the 'bank of the future'. We proudly introduce market-leading initiatives that disrupt traditional models to create a seamless, bespoke and agile banking experience, tailored to the evolving needs of our clients and the markets we serve.
2
ABOUT
BANK ABC GROUP
STRATEGIC INTENT
MENA'S INTERNATIONAL BANK
OF THE FUTURE
OUR VALUES
Client Centric
We are committed to knowing our customers and developing long- term relationships.
Collaborative
We work together as one team across our international network, providing a superior client experience.
Consistent
We are trusted to deliver every time in the right way, demonstrating integrity to all our stakeholders.
3
BANK ABC GROUP
ANNUAL REPORT 2023
TABLE OF CONTENTS
01 Bank ABC Group Snapshot
8 Bank ABC at a Glance
12 Financial Highlights
14 Year in Review
02 Performance
Review
20 Chairman's Statement
26 Group CEO's Statement
30 Bank ABC - The Investment Case
32 Board of Directors
34 Executive Management
36 Group Financial Review
42 Business & Operations Review
56 Bank ABC Awards
58 Risk Management
96 Strategy in Motion
03 Corporate
Governance
Report
100 Corporate Governance
04 Financial Results
122 Independent Auditors' Report
Consolidated Statement of Financial Position
Consolidated Statement of Profit or Loss
Consolidated Statement of Comprehensive Income
Consolidated Statement of Cash Flows
Consolidated Statement of Changes in Equity
Notes to the Consolidated Financial Statements
05 Appendices
Group Directory
Network
4
TABLE OF CONTENTS
5
BANK ABC GROUP
ANNUAL REPORT 2023
BANK ABC GROUP SNAPSHOT
6
BANK ABC GROUP SNAPSHOT
01 7
BANK ABC GROUP
ANNUAL REPORT 2023
BANK ABC AT A GLANCE
Renowned as one of MENA's leading international banks, Bank ABC [incorporated as Arab Banking Corporation BSC) was founded in 1980 and is headquartered in Manama, Kingdom of Bahrain. Our vast global network spans 15 countries across the Middle East, North Africa, Europe, the Americas, and Asia, and actively covers 25 markets.
5,000+
Diverse
Workforce
8
BANK ABC
AT A GLANCE
A Leading Universal Banking Proposition
Wholesale
Banking
Transaction Banking
Specialised Finance
Financial Markets
Capital Markets
Real Estate Finance
Retail
Banking
Full suite of retail products & services offered in Bahrain, Egypt, Jordan, Algeria & Tunisia
Payments
Processing
Merchant Acquiring
Fintech services
Islamic
Finance
Full range of Shari'a- compliant wholesale banking products offered across our global network
Retail Islamic banking products offered in Bahrain and Algeria
Ownership Structure of
Bank ABC (Controlling Shareholders)
59.37%
Central Bank of
Libya
29.69%
Kuwait Investment
Authority (KIA)
10.94%
Others, including
Free Float
9
BANK ABC GROUP
ANNUAL REPORT 2023
GLOBAL FOOTPRINT
Your business partner across five continents & fifteen countries
KEY MILESTONES
Incorporated in Bahrain pursuant to Amiri Decree Law No. 2
Banco Atlantico acquisition
1980
1981
Bank ABC's three shareholders: KIA, ADIA and Central Bank of Libya inject US$750 million equity
ABC - Arab Banking Corporation BSC published this content on
30 April 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
30 April 2024 16:44:34 UTC.
Arab Banking Corporation BSC (ABC) is a Bahrain-based financial institution engaged in the banking sector. The Bank, together with its subsidiaries, provides trade finance, treasury, project and structured finance, corporate banking, financial institutions and syndications, as well as Islamic banking products. The Bank offers its services and products through four segments: the Universal Banking segment covers Retail and small and medium enterprises (SME) banking activities of the Bank in the Arab World; the International Wholesale Banking segment encompasses project and structured finance, trade finance and forfeiting, Islamic financial services, corporate banking & financial institutions, syndications and corporate finance; the Treasury segment comprises the activities of treasury, and the Others segment includes activities of the Bankâs subsidiaries include Banco ABC Brasil SA and Arab Financial Services Company BSCC.
ARAB BANKING CORPORATION (B.S.C.) 
