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Arab Bank – Egypt has recently launched a special promotional offer in collaboration with Booking.com, one of the largest travel e-commerce companies in the world. The promotion introduces exclusive benefits to Arab Bank credit cardholders when using their cards to pay for their accommodation at the destination of their choice across the world. 

The offer entails 4% cashback of the value of the cardholder’s reservation credited automatically to his/her card account. This is in addition to earning reward points through “Arabi Rewards” program, which allows customers to earn points whenever they use their credit cards for purchases and redeem their points for cash. The offer is valid exclusively for bookings made through www.Booking.com/Arabbank

Commenting on the campaign, Mr. Mohamed Elhalawane, Head of Consumer Banking at Arab Bank – Egypt, said: “At Arab Bank, we always seek to provide our customers with value-added benefits and offers, in recognition of their loyalty and trust.” He added: “This special collaboration with Booking.com is a new gateway that enabled the bank not only to reward its customers, but also to provide them with added benefits that meet their needs and expectations and fit their lifestyle.”

It is worth mentioning that Arab Bank credit cards provide a wide range of benefits to its holders, including worldwide acceptance, access to “Arabi Rewards” program that enables customers to earn points on many banking transactions and redeem them with cash. Additionally, Arab Bank credit cards provide easy payment plan for convenient installments and easy secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service, “Arabi Online”.

 
Aug 25, 2019
Arab Bank Launches Special Offer in Collaboration with Booking.com

Arab Bank Group announced its results for the first half of 2019 reporting a growth of 4% with net profit after tax reaching $453 million as compared to $436 million in 2018. Total loans increased by 3% to reach $26.2, and deposits increased by 3% to reach $34.1 billion. Group equity stood at $ 8.7 billion.

Mr. Sabih Masri, Chairman of the Board of Directors commented that despite the continued slowdown of economic growth in the region, the Group continues to deliver strong financial performance, which affirms the Bank’s effective management of risks and its ability to deal with the challenging environment.

Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the underlying performance of the Group continues on its growth path with first half results recording a healthy increase of 5% in net operating income. He added that the strong performance was driven by growth in core banking income with net interest income increasing by 5%.

Mr. Sabbagh remarked that Arab Bank Group enjoys high liquidity and strong and robust capitalization. Group’s capital adequacy ratio stood at 15.8% and loan to deposit ratio at 76.9% as of 30 June 2019. He added that the asset quality of the Group remains high and that credit provisions held against non-performing loans exceed 100%.

Mr. Sabih Masri expressed his confidence in the Group’s ability to maintain its leading position and to continue delivering strong results and sustainable growth.

Arab Bank was recently named “The Middle East’s Best Bank 2019”, by Euromoney – London in addition to “Best Bank in the Middle East” for the 4th consecutive year by Global Finance, New York.

Jul 28, 2019
Arab Bank Group first half 2019 profits grow by 4% to reach $453 million

Arab Bank Group announced its results for the first quarter of 2019 reporting 5.2% growth in net profit after tax of $231.8 million as compared to $220.3 million in 2018, with net income before tax increasing by 9.1% to reach $312.8 million. Group equity stood at $ 8.5 billion, while loans increased to reach $25.8 billion and deposits increased to $33.7 billion.

Mr. Sabih Masri, Chairman of the Board of Directors stated that the performance of Arab Bank Group confirms the success of the Group in generating strong results despite the backdrop of the challenging operating environment.

Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the underlying performance of the Group continues on its growth path with first quarter results recording a healthy increase in net operating income. He added that the strong performance was driven by growth in core banking income with net interest income increasing by 7% as well as by lower provisions.

Mr. Sabbagh remarked that Arab Bank Group enjoys high liquidity and strong and robust capitalization. Group’s capital adequacy ratio stood at 15.5% as of 31 March 2019. He added that the asset quality of the Group remains high and that credit provisions held against non-performing loans continue to exceed 100%.

Mr. Masri expressed his confidence in the Group’s ability on delivering strong and sustainable results.

Arab Bank was named “Best Bank in the Middle East” for the 4th consecutive year by Global Finance, New York.

Apr 29, 2019
Arab Bank Group First Quarter Profits Grow by 5.2% to $231.8 Million