The Housing Bank for trade and finance (HBTF) reported a pretax profit of JOD 42.2 million during the first quarter of the year 2018 compared to JOD 45.8 million during the same period of 2017. While, net profit (after tax) amounted to JOD 27.8 million compared to JOD 31.4 million for the same period last year. This decline was due to the implementation of the new International Financial reporting standard (IFRS 9). HBTF's Gross Income grew by 3.6% as compared to the same period last year to reach JOD 85.7 million.

Commenting on these results, the Chairman of HBTF Mr. Abdel Elah Al Khatib, stated that the Bank's Board of directors met on April 30th 2018 and approved first quarter financial statements. Mr. Al-Khatib expressed his content and satisfaction towards the results that the bank achieved in various aspects, which reflect the bank's success and ability to achieve sustainable growth. He added that the bank enjoys strong liquidity and robust capitalization as the bank was able to maintain safe liquidity level at (125%) and a high capital adequacy ratio (16%) and they are both above the minimum required by the Central Bank of Jordan. Return on average assets was 1.4% and Return on Equity was 10%.

The Housing Bank CEO Mr. Ihab Sa'adi, stated that the favorable results achieved are good despite the challenging operating climate. He also added that the operational profit has increased by 4%, total assets grew by 1.3% to reach JOD 8.3 billion. Moreover, Customer deposits grew by 1.2% to reach JOD 5.9 billion and total loans rose by 2.5% to reach JOD 4.6 billion. Total Equity amounted JOD 1.1 billion.

Mr. Sa'adi expressed his full confidence in the bank's ability to continue its ongoing positive performance throughout the year and affirmed his pride in maintaining the bank leadership position in the local market in various financial indicators, some of which: Direct credit facilities, saving accounts in local currency and the bank's network (branches & ATMs).

He also expressed his pride in the bank's strong solvency and portfolio quality, as NPLs ratio improved by 0.3% to reach 3.7% by the end of March 2018. Coverage Ratio also improved by 4.1% to reach 111% which reflects the sound and proper risk management policies and procedures.