Media ININ Economy We Trust
Media In/ Amman October 31, 2018
The net profit of the Housing Bank for Trade and Finance in Jordan before tax amounted to 119.2 million dinars for the end of September of this year, while net profit after tax amounted to 81.5 million dinars.
The Bank’s operating profit grew 11% to KD 146.1 million compared to KD 132.2 million for the same period last year. The capital adequacy ratio was 17.1%, the rate of return on assets after tax was 3.1%, and the rate of return on equity after tax was 10% . This growth in operating profit was due to revenue growth and rationalization of operating expenses.
Total assets increased by 1 percent to KD 2.8 billion. Customer deposits increased by 1.6 percent to KD 5.9 billion. The total balance of direct credit facilities increased by 4.6 percent to KD 4.7 billion. Total equity reached KD 1071 million.
The liquidity ratio was 125 percent higher than the rate required by the Central Bank of Jordan. The non-performing debt ratio stood at 1.4 percent at the end of September 2018. The bank maintains large provisions that constitute a high coverage ratio for these debts.
During the current year, the Bank has won four awards from regional, international and international institutions, including the Bank of Jordan’s 2018 Best Bank Award.
