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Thursday 11 Feb 2016 - 14:33 Makkah mean time-2-5-1437
Image from mirajnews
Amman, (IINA) - Jordan Islamic Bank (JIB) achieved pre-tax profits of $ 105.4 million in 2015, up almost 17 percent on year ago levels. Net profits after tax reached $68.7 million, up eight percent, CPI Financial News reported.
CEO and General Manager of JIB Musa Shihadeh said that the increase the bank achieved in its profits is due to the continuous growth in its various financial indicators, which reinforced its position in the Jordanian banking sector to achieve further accomplishments that serve national economy.
Growth in total assets reached around 8.2 percent amounting to about $5.88 billion. Facilities granted for customers grew by around 20 percent amounting to about $4.44 billion. Shihadeh indicated that the growth in clients' deposits reached around eight percent to $5.29 billion.
Total revenue was up 6.3 percent to $282.5 million while growth in joint investment profits before distribution reached about 6.6 percent to $250.2 million.
Shareholders’ equity rose 10.3 percent to $438.64 million and the return on average equity (ROAE) after tax reached about 16.42 percent. JIB’s Capital Adequacy Ratio (CAR) reached 21.11 percent at end-2015, return on average assets (ROAA) reached 1.33 percent, the efficiency ratio reached 39.15 percent, and the non- performing finance (NPF) reached 3.87 percent and the coverage ratio 106.9 percent.
JIB’s Board of Directors is recommending a dividend of 15 percent of nominal share value.
SM/IINA
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