Jul 22 2012
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Housing Bank posts lower profit during first half of 2012
Net profit after provisions and after tax amounted to JD51.2 million compared with JD54.4 million in the same period of 2011, he added in the press statement.
Marto attributed the decline mainly to the situation in Syria where the bank operates a subsidiary under the name International Bank for Trade and Finance.
"Net interest income rose by 22 per cent to JD115.6 million compared with JD95.1 million," it said.
According to the press statement, capital adequacy stood at 20.2 per cent, which is higher than the 12 per cent minimum required by the Central Bank of Jordan .
The bank also continued to maintain high levels of liquidity which, at 172 per cent, exceeded the 100 per cent minimum acceptable by the supervisory authorities.
Efficiency index (the proportion of expenses to income) improved from 39.3 per cent during the first half of 2011 to reach 35.2 per cent during the first half of 2012. This level is considered one of the best levels in the banking system in Jordan.
Marto described the results of external branches in Bahrain and Palestine, and those of the subsidiaries: International Bank for Trade and Finance, Syria, The Housing Bank for Trade and Finance, Algeria, and the Jordan International Bank "JIB", London, as good levels of achievement compared with the balances at beginning of the year.
Three new branches were opened in the Kingdom during the first half of 2012 bringing the number of branches operating in Jordan to 115. These branches are supported by 199 ATMs ranking the bank at the top in Jordan in terms of the number of branches and ATMs.
© Jordan Times 2012
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