HBTF posts higher pretax profit at the end of September

AMMAN — The Housing Bank for Trade and Finance (HBTF) increased its pretax profit by 10 per cent during the first nine months of this year as it reached JD145.2 million at the end of September compared to JD132 million at the end of the same period last year. 

HBTF also improved its profit after tax which rose by 8.1 per cent to JD100.6 million compared to JD93.1 million at the end of September last year. 

The positive figures resulted from a gross income that amounted to JD279 million compared to JD260.4 million received during the January-September period of last year, according to an HBTF statement. 

The bank’s total assets reached JD7.6 billion while its total customer deposits amounted to JD5.4 billion and its total credit portfolio stood at JD4.2 billion, according to Ihab Saadi, HBTF chief executive officer. 

The HBTF posted higher average return on shareholders’ equity “after tax” which moved up from 12 per cent to 12.9 per cent, according to the statement.

Saadi lauded the bank’s performance and stressed that HBTF succeeded in solidifying its financial standing and enhancing its business volume in all banking activities despite the regional instability that has adversely affected the Jordanian economy, according to the statement.