Housing Bank hikes H1 net profit by 16.4%

AMMAN — The Housing Bank announced Saturday in a press statement that net profit went up 16.4 per cent during the first half (H1) of this year.

According to the statement, net profit after provisions and after tax amounted to JD61.1 million compared to JD52.5 million achieved during the H1 of last year. 

“Total assets at the end of last month rose by 5 per cent to JD7.6 billion and customer deposit balances increase by 3.6 per cent to JD 5.3 billion,” Chairman Michel Marto indicated in the statement. 

“The net balance of credit facilities portfolio amounted to JD2.8 billion, 5.2 per cent higher than the amount at the end of 2013,” he pointed out.

He said that the bank achieved positive results in various performance indicators, noting that capital adequacy ratio stood at 17.6 per cent, a rate that is higher than the 12 per cent minimum required by the Central Bank of Jordan. 

The chairman pointed to a 53 per cent ratio of net facilities to customer deposits to highlight the bank’s high liquidity.

“Figures confirm the strength of the bank's financial position, and its ability to continue to achieve greater achievements and growth rates in various activities,” the statement said, noting that the results are preliminary and subject to the approval of the Central Bank of Jordan."