Welcome to Arab Bank’s global website designed to provide you with general information regarding our history, our profile and the products and services that we offer. We also give you with our latest news as well as our Group Directory for our various subsidiaries, affiliates and sister institutions, among other things. I hope that its rich content will provide you with the information you need.
Established in 1930, the Arab Bank has evolved from a small bank into one of the largest financial institutions in the Middle East. Today, the Group has an unmatched Arab Banking branch network, the largest worldwide, with over 500 branches in 30 countries spanning 5 continents.
Our legacy has been to act as an active and leading partner in the socio-economic development of the region; this was derived from the vision which guided the life and achievements of the Bank’s founder, the late Abdel Hamid Shoman, and carried on through his son, the late Abdul Majeed Shoman.
In 2002, the Arab Bank implemented a new business strategy which, over the last five years, has resulted in significant achievements on many fronts.
The Group has seen unprecedented financial performance over the past three years, the best since its establishment. Net income after tax grew by 24% from USD 503.2 million in 2005 to USD 624.6 million in 2006.
Our financial strength and stability is continuously emphasized by the ratings we receive from the most internationally recognized rating agencies. Today, our long-term foreign currency deposit ratings are “A-” by both Standard and Poor’s (S&P) and Fitch, and “A1” by Moody’s.
The Arab Bank Group works together as one, and will continue to collaborate as a committed team sharing each other’s successes and achievements. Our visions and goals aligned, we choose each of our activities and take the necessary steps to yield the best results for our clients, shareholders, business partners and employees.
With our deep roots, historical and future accomplishments, financial strength, human assets and wide global network, the Arab Bank Group will continue moving forward towards setting new standards of leadership and becoming the leading financial institution of the Arab World, a vision which we very much believe in.
Once again, welcome to our website.
Abdel Hamid Shoman
Chairman / CEO