Manama: Jordan Islamic Bank (JIB) has posted a growth of about 10.2 per cent in profits for the first half at $35.26 million, compared with $32.02m for the same period last year.
JIB is a subsidiary of Bahrain-based Al Baraka Banking Group (ABG),
The JIB board, represented by ABG president and chief executive Adnan Ahmed Yousif, approved the financial statements expressing satisfaction with the results which affirm the solid financial status of the bank, its assets quality, safe investments and its commitment to the approved rules and policies of risk management.
JIB general manager Musa Shihadeh said the bank was able to achieve a growth in its various financial indicators during the first half of the current year which asserts its well–established roots in Islamic banking business, its enhanced status in Jordan banking sector and its distinguished role in serving national economy.
The bank’s assets including restricted investment accounts, Muqarada bonds and investment by proxy accounts grew about 3.2pc during the first half to $5.64 billion, compared with around $5.5bn as at the end of last year.
Mr Shihadeh said the development of the bank’s activities in the financing and investment fields and for various productive sectors including corporate, retail and small and medium enterprises grew 6.6pc.
Facilities granted for customers (including restricted investment accounts, Muqarada bonds, investment by proxy accounts) reached during the first half about $3.95bn, compared with about $3.67bn earlier.
Clients’ deposits (including restricted investment accounts, Muqarada bonds and investment by proxy accounts) reached $5.08bn, compared with $4.94bn at the end of last year posting a growth of 3.3pc.
This confirmed the confidence of customers in the bank and its excellence in providing developed and modern banking services in compliance with provisions and principles of Sharia.
Mr Shihadeh said the bank has distributed cash dividends of 13pc.
&uuid=(email))