Business & Money | Monday 29 July, 2019 6:36 pm |

The profits of the Jordan Islamic Bank grew by 12% to KD 39.1 million at the end of June compared to KD 35 million for the same period of 2018.
The bank said in a statement issued on Monday that profits after tax rose by 5 percent to about 24.5 million dinars compared to about 23.3 million dinars for the same comparison period.
The Board of Directors of the Jordanian Islamic Bank, headed by Musa Abdul Aziz Shehadeh, approved the financial statements until 30 June 2019.

 

 

Shehadeh confirmed that the bank has completed all approvals and formal procedures to raise the capital of the bank to 200 million dinars per share instead of 180 million dinars per share in implementation of the decisions of the extraordinary general assembly of the bank to increase the capital of the bank by 20 million dinars per share 11.11% Fifth of the Memorandum of Association and the Statute. The increase was covered by capitalization of KD 10 million from the retained earnings account and KD 10 million from the voluntary reserve account balance. The bank also distributed cash dividends to shareholders for the year 2018 at 15 per cent of paid-up capital.

 

The Bank's assets, including restricted investment accounts, investment accounts, investment portfolios and investment accounts, amounted to JD 4.7 billion at the end of last June, compared to KD 4.6 billion at the end of 2018, an increase of 2.8 percent.

The facilities granted to customers, including restricted investment The facilities granted to customers, including restricted investment accounts, investment accounts, investment portfolios and Agency accounts, amounted to JD 3.6 billion, compared to KD 3.5 billion at a growth rate of 2.7 percent.

The capital adequacy ratio was 22.32% and the average return on average equity was 12.49% and the average return on assets was 1.17%.