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Annual Reports
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Page Content Bank ABC's annual reports are a documentation of the Bank's continuous success. They display a constant pattern of successful deals and acquisitions, financing landmark projects and our pride when conveying such news to our shareholders. |
| 2022 | | 2022 was a record-breaking year for Bank ABC, as we exceeded US$1 billion in revenue for the first time in our history. We built on the momentum of the previous year to accelerate performance and continue our digital transformation journey while delivering outstanding results, supported by a smooth leadership transition that positions the bank for future growth and value creation moving forward. | |
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| 2021 | | Throughout 2021, while social and travel restrictions
continued to impact the banking industry in Bahrain
and around the world, economic activity started
picking up from the recession of 2020. Global trade
rebounded sharply but remained weighted by supply
chain bottlenecks. As we progressed through 2021
and into 2022, accommodative monetary policy
conditions and economic support measures have
continued, which have contributed to surging inflation
coupled with abundant liquidity. In response, many
emerging markets have already been forced to raise
interest rates, and the US Fed has begun tapering its
asset purchases prior to anticipated interest rate hikes
in 2022, with this approach being mirrored by other
developed market central banks. | |
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| 2020 Annual Report | | The International Monetary Fund’s annual report for last year declared 2020 to be “a year like no other”. The reason, of course, was the COVID-19 pandemic, which has swept around the globe, transforming the way we live, work and conduct business. Following a year of robust financial results in 2019, Bank ABC began 2020 optimistic about its prospects for the year ahead, supported by a bedrock balance sheet. However, by the time March arrived, everything had changed as the impact of the pandemic began to be felt across the world. Despite the unprecedented challenges of the year, with our prudent strategy and agile and adaptive mindset, 2020 witnessed a number of remarkable achievements for the Group, in line with our strategic value drivers. | |
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| 2019 Annual Report | | 2019 has been a remarkable year for the Bank’s
transformation strategy, with significant investment and
growth in human capital, digital, services and operating
structures, showcasing progress during a year of global
economic uncertainty. The year represented substantial
developments in the Bank’s strategic value drivers with
demonstrable, positive outcomes.
I am delighted to share that ‘ila Bank’ our groundbreaking
and world-class new digital retail bank in
Bahrain was launched in November 2019. ‘ila’ is the
Kingdom’s first-ever purely digital, mobile-only bank
that enables retail customers to manage all end-to-end
services from a smartphone – including sophisticated
AI features, all digital onboarding, a growing set of
payment and product capabilities and state of the art
security features. The proposition was developed by a
talented team from across the Group, and its early post
launch market feedback has been exceptional from all
stakeholders. | |
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| 2018 Annual Report | | Operating performance continued its positive trend during the year, and the first phase of our transformation strategy has met its goals. This was achieved despite slowing global economic growth and persisting geopolitical tensions. In our core markets, recovery in the GCC remains muted and the outlook in North Africa continues to be challenging. But conditions in Brazil, another key market for us, are improving.
Against this background, Bank ABC’s net profit for 2018 was US$ 202 million, 5% higher than in 2017, thus continuing the past few years’ improving operating performance. Strategically, the Bank is prioritising a more efficient use of capital and growing fee income, which caused return on equity to uptick, increasing to 5.2% in the year. | |
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| 2017 Annual Report | | The Group’s net profit reached US$193 million at the end of 2017, compared with the US$183 million reported in the previous year, growing by 6%. Operating income increased to US$869 million (2016: US$865 million) on a headline basis, but improved by 7% to US$873 million (2016: US$816 million) on a normalised basis after adjusting for currency hedges in Banco ABC Brazil. | |
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| 2016 Annual Report | | As a result of the Group’s focus on improving total return, our increasing business volumes were achieved without significant balance sheet expansion and with efficient use of capital. Growth in assets was controlled reaching US$30.1 billion (US$28.2 billion at 2015 yearend), with a significant increase from FX translation of assets from Banco ABC Brasil. | |
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| 2015 Annual Report | | In 2015, we announced a new brand for the ABC Group and a refined strategy for transforming the Group.
Reflecting changes in our markets and clients, the Bank was rebranded as Bank ABC across all our markets and a new brand positioning strategy was adopted, along with a refined strategy for transforming the Group. | |
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| 2014 | | Notably, we refreshed our strategic intent and core objectives and have just launched a new “one bank” brand identity for 2015 and beyond. This strategy is designed to boost our leadership position through a client centric approach leveraging our network to create greater reach, while we enhance our product and service proposition. This will help foster new revenue streams and increase share of client business to take advantage of opportunities presented as global banks retrench from our core markets. | |
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| 2013 | | During 2013, ABC stepped up the search for a suitable acquisition, enhanced its Wholesale Banking and Treasury structures and continued its push for higher cross-selling rates and better targets for return on capital. ABC also optimised its cost base in Bahrain and other associated locations in MENA, together with its New York Branch. In addition, ABC continued to improve its funding profile, resilient operating performance and healthy asset quality. | |
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| 2012 | | The Group’s geographic diversity across 20 countries proved a source of strength. The MENA subsidiaries grew during the year, as did ABC International Bank’s activities headquartered in the United Kingdom. Brazil, a major driver of growth in previous years, consolidated its recent gains. | |
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| 2011 | | Arab Banking Corporation (ABC) delivered very strong results in 2011, which was an exceptionally challenging year impacted by unprecedented adverse political and economic events arising from the Arab spring and Eurozone crisis. | |
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| 2010 | | In 2010, Arab Banking Corporation (ABC) took significant steps to implement its strategy of becoming one of the Middle East & North Africa’s (MENA ) leading universal banks. Expansion of the geographic footprint was accelerated, a new approach to building relationships with core clients was introduced and the bank’s infrastructure was upgraded, both in terms of technology and people. | |
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| 2009 | | In 2009 ABC Group successfully weathered continuing adverse market conditions to return to profitability, with a consolidated net profit of $122 million compared with a loss of $880 million the previous year.
ABC’s rights issue of June 2008, which increased its issued share capital by $1 billion, laid the foundation for the Group’s good performance in 2009. | |
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| 2008 | | ABC is pleased to report that all Universal Banking units performed well in 2008 and in line with budgeted expectations.
Retail Banking maintained steady growth across the region in all business areas, as reflected by expansion in portfolio assets and liabilities, customer acquisition, network and delivery channels and new products and services. As a result, the segment’s revenue contribution also increased considerably. | |
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| 2007 | | ABC would be announcing its best-ever year with an operating income of $691 million - far exceeding its record $484 million of 2006,had it not been for the global credit crunch. Even with the impact of the investment writedowns, the Group still returned a respectable $125 million net profit, a not insignificant achievement owing much to across-the-board improvement in virtually all areas of our business. | |
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| 2006 | | The year 2006 saw an increase in the Group's loans & advances portfolio by 26%. The Group's holdings of marketable securities and its inter-bank placements produced a 38% increase in total operating income. The ABC Group saw a 57% increase in net profits, exceeding US$ 200 million for the first time in the Group's history. | |
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| 2005 | | The product-based matrix template worked exceedingly well. The published result was an 18% increase in net profit to US$ 129 million, despite the fact that the 2004 disposals effectively reduced ABC's total assets by 50% and total loans and advances by over 60%. Regardless, ABC finished with US$ 13.4 billion in deposits and US$ 352 million in total operating income. | |
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| 2004 | | Most non-core activities were abandoned for the sake of restructuring ABC's management around the principles of product, instead of geographic orientation. Total operating income hit the US$ 305 million mark, while total deposits were marked at US$ 17.5 billion. | |
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| 2003 | | The invasion of Iraq compelled ABC to order an effective standstill of business earlier in the year. However, it was executed with the least disruption to existing clients. A fast build up of liquidity was carried out as part of the Group's contingency plan. Regardless, ABC's operating profits reached US$ 354 million; a US$ 124 million increase from 2002. Deposits increased to US$ 24.7 billion from last year's US$ 23.1 billion. | |
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Bank ABC’s ‘ABC Labs’ named as one of the World’s Best Financial Innovation Labs by Global Finance
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| Bank ABC Appoints Mr. Sael Al Waary as its Group Chief Executive Officer
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| Bank ABC Q1 2023 results: net profit attributable to the shareholders of parent surges 94% to US$60 million
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