Jordan's Arab Bank Q1 profits rise 2.8 pct

Jordan's Arab Bank Group, the country's largest lender, made first quarter net profit of $173.34 million, up 2.8 percent from the same period last year, above analystS forecasts, a statement released on Friday showed.The bank saw healthy growth in net earnings and interest in first quarter to $324.5 million against $312.9 million in the same period last year, the financial statements showed.

Arab Bank's Group's net profits fell 31.4 per cent in 2009 to $575.5 million as it set aside $204 million in provisions for non-performing loans, up from $40 million in 2008.