31 August 2011
Jordan's leading Islamic bank, Jordan Islamic Bank, has reported JD13.4m ($18.9m) after-tax profit for the first six months of 2011.
Jordan's leading Islamic bank, Jordan Islamic Bank, has reported JD13.4m ($18.9m) after-tax profit for the first six months of 2011.
JIB, a subsidiary of Bahrain's Al Baraka bank, saw both deposits and loans increase. The bank's general manager, Musa Abdelaziz Shihadeh said in a statement that the bank's assets increased from JD2.9bn ($4.1bn) at the end of the first half of 2010 to JD3bn ($4.2bn).
However, despite remaining in the black, profits decreased from JD14.7m ($20.8m) in the first half of 2010, an 8.8% fall, which itself was a 28% fall in profits from the corresponding period in 2009. JIB did not respond to requests for comment.
© The Islamic Globe 2011
