Amman — The Arab Bank Group, one of the Arab world’s largest banking establishments, Saturday announced a 10.1-per-cent increase in its semi-annual net profits after tax, to 370.4 million dollars from 336.4 million dollars in the first six months of 2006, according to dpa.

“The group’s midyear results reflect a qualitative transition in performance and an excellent administration of financial resources,” the Arab Bank Chairman Abdul Hamid Shoman said.

Shoman also reported 20 per cent growth in the Arab Bank Group’s assets, to 35.7 billion dollars from 29.8 billion dollars a year ago.

The group’s general balance sheet as recorded at the end of June 2007 increased by 21.2 per cent, to 50.7 billion dollars from 41.7 billion dollars at the end of June 2006, he added.

The Arab Bank Group operates more than 40 branches across the globe.