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Arab Bank shares drive Amman Stock Exchange to historic trading volumes

Jordan Daily – Arab Bank shares led trading volumes on the Amman Stock Exchange to historic levels on Monday, reaching JOD 98.06 million ($138 million) at the close of trading.

A transaction was carried out on the bank’s shares at Monday’s closing price of JOD 4.37 per share, involving approximately 21.94 million shares. The shares were transferred from shareholder Msllam bin Ali Msllam, a Saudi national, to the National Arab Bank, also Saudi-owned, for a total value of around JOD 96 million ($135 million).

It’s worth noting that the Arab Bank Group reported positive results for the first quarter of 2024. Net profits after tax reached $252.8 million, compared to $216.3 million as of March 31, 2023, marking a growth of 17%. The group maintained a strong financial position, with equity reaching $11.3 billion.

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