Amman, Jordan – Bank of Jordan Group has announced its consolidated financial results for 2024, which were approved by the Central Bank of Jordan. Despite facing challenging economic and geopolitical conditions, the group delivered balanced results across its markets. This success is attributed to the adoption of a comprehensive strategy focused on institutional transformation, investment diversification, and a robust approach to risk management.

The group’s total income for the year reached JOD 170 million, driven by operational activity. Net interest and commission income accounted for 94% of total income. Shareholders’ net profit totaled JOD 35 million, reflecting a 20.5% decrease compared to 2023. This decline was primarily due to additional credit provisions made to address the repercussions of the war on the Gaza Strip and the West Bank, as well as the costs associated with establishing a new branch in the Kingdom of Saudi Arabia.

In the Iraqi market, Bank of Jordan-Iraq reported positive performance, with net profit reaching JOD 3.2 million, marking a growth of 403%. Customer deposits in Iraq grew by 9.6%, demonstrating strong client confidence in the bank.

The Bank of Jordan Group continued its trajectory of sustainable growth in 2024. Total assets increased to JOD 3.2 billion, reflecting a growth of 4%, while shareholders' equity rose to JOD 528.3 million. Customer deposits grew by 3.8%, reaching JOD 2.3 billion, and the credit facilities portfolio increased by 4.6%. These figures reflect the bank’s well-executed credit strategy. Despite external challenges, the bank maintained strong liquidity, with a statutory liquidity ratio of 151.1%, a liquidity coverage ratio of 449.2%, and a capital adequacy ratio of 20% all exceeding regulatory requirements under Basel III.

In light of these results, the Board of Directors of Bank of Jordan has recommended a cash dividend distribution of 18% to shareholders for the year 2024.

Commenting on the Results, Mr. Shaker Fakhouri, Chairman of Bank of Jordan, affirmed that the bank remains committed to excellence and sustainable growth. The bank launched a comprehensive corporate transformation strategy in 2024, focusing on investment diversification, geographical expansion, and the enhancement of its corporate identity. This transformation also includes the development of a cutting-edge human resources management system, with an emphasis on digital transformation and innovation in banking services through the use of big data and artificial intelligence.

Mr. Fakhouri further highlighted that the bank will continue executing its regional expansion plans. These plans include the opening of three new branches in Iraq by 2025 and the completion of preparations to launch operations in Saudi Arabia in the first half of 2025. This will further strengthen the bank’s regional presence and provide advanced banking services to meet the evolving needs of customers in these markets.

As part of its digital strategy, Bank of Jordan launched its own central cloud service in 2024. This move has reduced dependence on external service providers, unified data centers, and enhanced the bank’s business continuity. Additionally, the bank is preparing to launch an innovation center in collaboration with fintech companies, with the goal of developing innovative banking solutions to better serve its customers.

In line with its commitment to sustainable development, Bank of Jordan introduced the "Multiple Relief Umbrella" program in 2024 to support humanitarian efforts in the Gaza Strip. With a budget exceeding USD 1 million, the program aims to provide essential needs for citizens. The bank also began implementing an integrated program focused on managing environmental and social standards in partnership with specialized institutions to promote sustainable business practices.

In conclusion, Mr. Fakhouri emphasized that Bank of Jordan will continue its regional expansion, invest in technology, and implement initiatives aimed at institutional transformation. The bank remains committed to improving services and performance while responding to challenges in the Palestinian market with wisdom and flexibility.