Arab Bank recently launched a promotional campaign for VISA cards that includes the exclusive release of a new VISA credit card with a special 2018 FIFA World Cup design.
The campaign which will run until 14/4/2018, provides customers who use their Arab Bank VISA credit for their daily purchases, as well as new customers who apply for any VISA credit card during the campaign, a chance to win one of eight fully paid trips for two to one of the following World Cup events in Russia: the opening ceremony and match, one of the group matches, the semi-final or the final matches. In addition to the chance to win one of 15 smart televisions with free subscription package to watch the tournaments.
Mr. Yacoub Matouk, Head of Consumer Banking at Arab Bank- Jordan, stated: “We are happy to partner with VISA, the official partner of 2018 FIFA World Cup, offering our football fans the opportunity to attend the biggest and most exciting sports tournament in the world.” He added: “We work diligently to provide unique offers and incentives to our customers and introduce exclusive experiences and rewards to Arab Bank credit cardholders.”
Commenting on the campaign, Visa Levant General Manager Nabil Tabbara said: “As the official payment service partner of the 2018 World Cup, VISA is celebrating the spirit of the game and looking forward to introducing innovative digital payment services to football supporters from Jordan and the rest of the world as they flock to Russia. VISA continues to improve our services; revealing our latest technologies and payment equipment, in addition to providing contactless cards and digital payment methods through smart phones and watches in official tournament match venues. We are very proud to partner with Arab Bank in this exciting promotion, which will enable winning Jordanian football enthusiasts to enjoy a once-in-a lifetime experience.”
Arab Bank credit cards provide its holders with a range of benefits, including worldwide acceptance, Arab Bank Rewards Program, Easy Payment Plan and easy access to credit card accounts through both Arabi Mobile and the Bank’s Internet Banking Service, Arabi Online.
Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach USD 25.1 billion.
In view of the results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2017.
Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong performance of Arab Bank Group confirms the success of the Group in dealing with the challenging and changing operating environment and reflects the Group’s prudent operating policies.
Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the solid results of Arab Bank Group for 2017 were driven by sustainable growth in the underlying business, spread improvements and well controlled expenses. Mr. Sabbagh remarked that Arab Bank Group enjoys strong liquidity and robust capitalization. As of 31 December 2017, the Group’s loan-to-deposit ratio stood at 74%, whilst the capital adequacy ratio calculated in accordance with Basel III regulations is at 15.3%. He added that the asset quality of the Group remains to be high, with NPL ratio at 5.2%, and credit provisions held against non-performing loans at 100%, excluding the value of collaterals.
Mr. Masri concluded by remarking that the encouraging results will continue to support the continuous improvement in the financial performance of the Group and its position in its markets.
Arab Bank was named “Bank of the Year in the Middle East for 2017” by The Banker – Financial Times, London and “Best Bank in the Middle East for 2017” by Global Finance, New York.
The 2017 financial statements are subject to the approval of the Central Bank of Jordan.
Arab Bank recently held a training workshop for its SME customers under the title “Developing Management and Finance skills for Small and Medium Enterprises (SMEs) customers”.
Held at the InterContinental Jordan Hotel, the workshop was the second in a series of sessions conducted by the Bank as part of its constant efforts to build the capacities of its SME customers through providing them with the needed business management expertise and financial knowledge to help develop and grow their businesses.
The workshop which was led by a specialized team of the Bank’s executives , focused on several key topics related to the SMEs sector, including the basics of project management, project financing, accounting records, cash flow management and other related topics.
Arab Bank is considered one of the leading banking institutions in supporting the SME sector locally and regionally. Through its corporate service centers across the Kingdom, the Bank provides a full range of banking solutions to develop and expand the business potential of its SME customers.