Bank ABC Q1 profit reported strong earnings for the first quarter, showing resilience despite global market challenges. The Bank ABC Q1 profit reached $76 million, marking a 1% increase over the same period last year.
However, after adjusting for foreign exchange shifts, the profit showed a stronger 11% year-on-year growth. This growth reflects gains in the Group’s core banking business across various regions.
Moreover, total operating income reached $332 million, only 3% lower than last year’s figure. But after adjusting for currency changes, income rose to $360 million, showing 5% growth.
At the same time, Bank ABC Q1 profit earnings per share rose to $0.022, slightly up from $0.021 a year ago. The bank managed this growth while keeping strong capital buffers and healthy liquidity positions.
In fact, Tier 1 capital ratio stood at 15%, with core equity at 13.2%. Liquidity also remained strong, with LCR at 209% and NSFR at 126%.
Despite slight asset fluctuations, total assets stood at $45.7 billion, down only 1% from year-end. Equity reached $4.27 billion after dividend adjustments, showing continued strength in financial structure.
Bank ABC operates in 15 countries and offers both traditional and Islamic finance solutions. It provides services in transaction banking, capital markets, real estate finance, and more.
Additionally, it offers digital consumer banking via ila Bank in Bahrain and Jordan. The Bank ABC Q1 profit confirms its ability to perform well in uncertain economic conditions.
Chairman Naji Issa Belgasem said the bank remains committed to shareholder value and sound governance. He also emphasized the importance of risk management during global market uncertainty.
Recent awards highlight the bank’s innovation and leadership in trade and digital banking. The Bank ABC Q1 profit also benefited from currency gains, especially the stronger Brazilian Real.
In contrast, last year’s performance was hit by the Egyptian Pound’s devaluation. Bank ABC will hold a virtual investor call to discuss its first-quarter performance in more detail. This call will also cover long-term plans for growth and innovation across its service areas.
As a result, Investors continue to watch Bank ABC’s performance closely as it navigates global economic shifts. With strong results, Bank ABC looks set to maintain steady growth for the rest of the year.
