“Jordanian Islamic” raises its capital to 180 million dinars and distributes 15% profits

MediaIn / Amman / Agencies 26 April 2018
The Board of Directors of Jordan Islamic Bank has approved the recommendation of the Board of Directors to distribute 15% cash dividends to the shareholders and approved the Board of Directors’ report, the annual budget, the profit and loss account for the fiscal year 2017 and the future plan of the Bank.
Mr. Adnan Ahmed Yousif, Chairman of the Board of Directors, expressed his pride in the achievements of the Bank in 2017, despite the global economy and the surrounding region of the crisis and its negative impact on the national economy, winning many international awards and credit ratings and legitimacy from several international destinations as the best Islamic bank and financial institution Islamic Bank in Jordan and the classification of the bank’s high legal commitment for the year 2017 while maintaining its distinguished banking position between Jordanian and Islamic banks.
Commenting on the Bank’s annual budget figures as at 31 December 2017, the Chief Executive Officer of Jordan Islamic Bank, Musa Shehadeh, said that the Bank continued to grow steadily in its financial indicators while maintaining its share of the Jordanian banking market for 2017.
He pointed out that the capital of the bank was increased to 180 million dinars instead of 150 million dinars, capitalizing 30 million dinars from the balance of retained earnings, and distributed their bonus free to the shareholders by the increase of each contribution to the capital by the end of 5 June 2017.
The bank’s total credit and investment balances of the direct credit facilities of banks operating in Jordan amounted to 13.6 percent. The Bank’s total savings deposits from the total deposits and accounts of customers with banks operating in Jordan amounted to 12.5 percent. The Bank’s total assets reached the total assets of banks operating in Jordan Which is 9.5 percent.
The Jordanian Islamic Bank made profits in 2017, which amounted to about 81 million dinars before tax and after tax about 54.1 million dinars.
The growth in shareholders’ equity was about 4.9% to reach 375 million dinars compared to about 343 million dinars at the end of 2016. The return on equity after tax was about 15.1%.
With 2335 employees, the bank works to develop the skills and abilities of its employees by engaging them in various training courses within the Bank’s training academy or through specialized centers and centers inside and outside Jordan.