UPDATE 1-Jordan's Arab Bank group says H1 net profit rises 4% to $453 mln - Reuters

UPDATE 1-Jordan's Arab Bank group says H1 net profit rises 4% to $453 mln - Reuters:

Jordan’s largest lender, Arab Bank Group, reported a 4% rise in first-half net profit to $453 million, from $436 million a year earlier driven by growth in core banking income.

A statement on Sunday by the bank, one of the Middle East’s major financial institutions, said total loans rose 3% to $26.2 billion as of the end of June, while deposits also rose 3% to $34.1 billion. Group equity stood at $8.7 billion, it said.

Chairman Sabih al Masri said the “strong performance despite the continued slowdown of economic growth in the region” reflected the bank’s ability to adjust to a “challenging banking environment.”