Arab Bank Today
Today, Arab Bank provides consumer banking services, as well as corporate and institutional banking services to individuals, corporations, government agencies and other international financial institutions. It is one of the most well-regarded financial institutions with a reputation as a transparent, competent, and trustworthy banker and lender. Arab Bank plays an important role in Jordan, commercially, financially and culturally. It is widely believed the bank's stability plays a role in the stability of the country and the region as a whole.
After years of being ranked A- from Fitch, A- from Standard & Poor and A3 from Moody’s, the bank’s rankings were dropped twice in 2011. Moody’s first downgraded its Local Currency Deposit Rating to Baa1 and then downgraded the bank’s Financial Strength Rating to a C- from a C. In both instances, Moody’s noted the decision was based on an analysis of political instability in the region. In April 2012, Moody’s announced a possible downgrade of the Bank’s current Financial Strength Rating as well as its local currency long- and short-term deposit ratings. In November 2011, Standard & Poor’s lowered its long-term counterparty credit ratings to 'BB' from 'BB+' noting the ratings are constrained by the local currency ratings on the sovereign. As of 25 January 2012, Fitch still has Arab Bank ranked at an A-.
As of their 2012 first quarter report, Arab Bank Group had a shareholders' equity base of $7.7 billion (USD), a net profit before tax of $256.4 million, (USD) and $46.4 billion (USD) in assets.
In early 2012, Arab Bank was among the top 10 stocks on the S&P-Hawkamah Pan Arab ESG Index. The ranking selects the Middle East's top 50 companies on the basis of environmental, social, and corporate governance standards and is a given by Standard & Poor's and Hawkamah.
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