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Arab Bank has maintained a policy of steady geographic expansion from its earliest days.
In our first decades we concentrated on establishing a solid branch network throughout the Arab World, moving steadily from Palestine into Jordan, Syria, Lebanon, Egypt and Iraq. In the 1970s the rapidly expanding oil economies of the Gulf were a major focus.
From 1960 onwards we began to take our services out to Arab individuals and communities around the world. We were the first Arab financial institution to establish a presence in Switzerland with the opening of Arab Bank (Overseas) in Zurich in 1962 and Geneva in 1964. These and other European branches in the United Kingdom, France, Italy, Greece, Cyprus and Singapore and sister companies in Austria and Germany, have subsequently been joined by our branches in the United States and our wholly-owned subsidiary in Australia.
The opening of our representative offices in China and our branch in Seoul are a recognition of the growing importance of economic ties between Asia and the Arab world.
Today we have a presence in every Arab country in which private sector banking services are permitted, a global network of more than 400 branchs and offices on five continents and we are still growing.
History
When Abdul Hameed Shoman established the Arab Bank in Jerusalem in 1930, he wanted to build an institution that would serve the Arab world. More than 70 years later, the bank which began with just seven shareholders and a capital of 15,000 Palestinian pounds is an international institution with a balance sheet of USD 26 billion, shareholder′s equity of USD 2 billion and a 1999 income of USD 225 million.
(last updated: 03-May-2002)
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