|Arab Bank high on best Middle East banks list|
13 Oct, 2008
Arab Bank acquired an advanced ranking on the 100 Best Middle East Banks List compiled yearly by the Middle East Magazine.
Arab Bank was ranked 4th on the basis of several criteria, including capital, assets, shareholders equity, return on assets, return on shareholders equity and capital adequacy by the end of 2007.
The ranking is an indicator of the growing confidence in Arab Bank by specialized rating companies and its ability to grow fast in terms of the various items on the balance sheet, reflecting its considerable financial strength.
The successive ratings of Arab Bank enhance the success of its strategy aimed at diversifying investment and financing operations to meet the banking and financial needs of the various economic sectors and corporate and individual needs.
Arab Bank PLC, a subsidiary of Arab Bank Group, also occupied an advanced position on the Best 100 list on the basis of the same criteria, an achievement that enhances the success this seven-decade-old institution has made and the leading position it has earned throughout its evolution.
Arab Bank has previously earned prestigious ratings by top international agencies such as Fitch and Standard and Poor, which each rated the ban (A-), while Moody's gave the bank an A3 rating, in recognition of its pioneering role at the regional and international levels.
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