Housing Bank to distribute 20% in dividends

AMMAN — The general assembly of the Housing Bank for Trade and Finance has approved a recommendation of the bank’s board to pay 20 per cent of its share value in dividends, according to a bank statement. 

During its meeting which convened on Monday, the bank’s general assembly approved the report issued by the board of directors and the financial results for the year ended 2017, as well as the plans for the year 2018. 

The meeting was presided over by Abdel Elah Al Khatib, the chairman of The Housing Bank for Trade and Finance, who delivered a speech highlighting the bank’s financial indicators for 2017. 

He said the bank’s pre-tax profit for 2017 totalled JD180 million compared to 190.3 million in 2016, while its net profit totalled JD125.2 million compared to JD 131 million in 2016. 

Al Khatib added that The Housing Bank Group registered a growth in total assets, which reached JD8.141 billion at a growth rate of 4.1 per cent year-on-year. 

Meanwhile, total client deposits reached JD5.8 billion with a 3.2 per cent growth year-on-year. 

Total direct credit facilities grew by 4.1 per cent to reach JD4.5 billion in 2017, while total equity was around JD1.1 billion at a 5.3 per cent growth year-on-year.