Arab Bank Group reported net income after tax for the first quarter of 2022 of $166 million as compared to $128.3 million for the prior period, recording an increase of 29.4%.

The Group loan portfolio grew by 5% to reach $35.2 billion as of March 31, 2022 compared to $33.5 billion for the same period last year, while customer deposits grew by 3% to reach $47.3 billion compared to $45.8 billion for the same period last year. The increase in loans and deposits in most areas of operations are in line with the Bank’s sustainable growth strategy to expand and diversify its clients and deposit base. The Group maintained its strong capital base with a total equity of $10.2 billion.

Mr. Sabih Masri, Chairman of the Board of Directors, stated that the results achieved by the Bank in the first quarter of this year, reflect the Bank’s strong financial position and its ability to deliver sustainable performance, while prudently managing the regional and global developments.

Miss Randa Sadik, Chief Executive Officer, stated that the underlying performance of the Group continues on its growth path with first quarter results driven by an increase in core banking income and a lower cost of risk, highlighting that the Bank’s net interest and commission income increased by 6.3% compared to prior period, despite ongoing market volatilities.

Miss Sadik commented that Arab Bank Group enjoys strong liquidity in the form of a granular deposit base and strong capitalization where loan-to-deposit ratio stood at 74.3%, and the capital adequacy ratio is at 16.5% in accordance with Basel III regulations. Miss Sadik also added that the asset quality of the Group remains high, with credit provisions held against non-performing loans continue to exceed 100%.

Mr. Masri concluded by expressing his confidence in the Group’s ability to maintain its leading position and to capture new business opportunities to deliver sustainable profitable growth.

Miss Randa Sadik has assumed the role of Arab Bank Chief Executive Officer as of February 1st, 2022, succeeding Mr. Nemeh Sabbagh who retired upon his request with effect of January 31st of this year.


Miss Sadik joined Arab Bank in July 2010 as Deputy Chief Executive Officer, a position she held since then. With over 36 years in banking, Miss Sadik previously held various leadership roles during the course of her 24 years at National Bank of Kuwait, the last of which was the General Manager of the international banking group. She holds an MBA degree from the American University of Beirut. 


On Miss Sadik’s appointment, Arab Bank’s Chairman of the Board of Directors, Mr. Sabih Masri, affirmed the board’s confidence in Miss Sadik’s proven track record and ability to lead the executive management team in propelling Arab Bank’s success journey and fulfilling the bank’s ambitious vision towards reinforcing its leading position, both locally and regionally. 


Miss Randa Sadik holds several positions within Arab Bank Group, among which are Chairman of the Board of Arab Tunisian Bank, Vice Chairman of Arab Bank Australia ltd, Board member of Oman Arab Bank, and Chairman of the Management Committee of Al-Arabi Investment Group.


In its latest issue, Forbes Middle East has named Randa Sadik among the 50 most powerful businesswomen in the Middle East, ranking her seventh on the list.