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Monday 25 April 2016

A growth of 20.1% ، 50.5 million dinars are the Housing Bank's profits before tax for the first quarter of 2016

The Housing Bank achieved profits by 50.5 million dinars before paying taxes during the first quarter of 2016, compared with the amount of profit of 42.1 million dinars that have been achieved during the first quarter of last year, with an increase of 20.1%, and net profit after tax of 34.6 million dinars, compared with 31.4 million dinars during the same period of 2015, with an increase of 10.2%.

Commenting on these results, Mr. Ihab Saadi, who is the General Manager of the Bank, assured the safety and strength of financial position of the bank and the hardness of the budget, with total assets reached 7.7 billion dinars at the end of March 2016, and customers' deposits reached 5.7 billion dinars balances, total credit facilities portfolio 3.9 billion dinars, as property rights amounted to 1.1 billion dinars.

These results were reflected on the key performance indicators of the Bank positively, in terms of return on assets rose (after tax) from 1.6% in 2015 to 1.8% in the first quarter of 2016, Return on equity (after tax) has risen from 12% to 13.2, and the capital adequacy ratio amounted to 16.8%, which is higher than required by the Central Bank of Jordan of 12% minimum. In addition, the bank continued to maintain high levels of liquidity, amounting to 144%, which is well above the minimum acceptable to the ratio from regulatory authorities amounting to 100% and the proportion of net loans to customers' deposits stood at about 63.6%.

And about the external presence of the bank, Mr. Saadi explained that the results of the abroad branches of the bank in Bahrain, Palestine, and the results of the banks in Algeria and Britain have achieved good levels of achievement during this period.

On the other hand, about the internal expansion in Jordan, the number of operating branches reached to 129 branches, while the number of ATMs reached 215 ATMs, and so the bank keeps in the first place among banks in Jordan, as for the number of branches and number of ATMs.

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