JORDAN ISLAMIC BANK PROFITS RISE TO $49.6 MILLION

(Foto: Jordan Islamic Bank. Image from ordansun) — (Photo: Jordan Islamic Bank. Image from Ordansun)

Amman, 17 Muharram 1437/30 October 2015 (MINA) – Jordan Islamic Bank (JIB) has achieved an increase in the profits after tax that reached $ 49.6 million during the current year until 30 September compared with about $ 46.7 million during the same period last year, with a growth of about 6.1 percent, CPI Financial reported.

Profits before tax reached about $ 76.0 million compared to $ 66.4 million with a growth of about 14.4 percent, Islamicnews.org.sa reported.

Adnan Ahmed Yousif, chairman of the Board of Directors of JIB and president and chief executive officer of theBahrain based Al Baraka Banking Group (ABG), said the results of the bank’s operations till the end of the 3rd quarter of the current year assert the strong financial and credit position of JIB and the success of its prudent policy which adopts an effective management and high efficiency in risk management and maintains a distinguished status among working banks in Jordan.

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He commended as well the efforts exerted by the executive management, BODs, official institutions and Central Bank of Jordan (CBJ) to upgrade Jordan banking system and develop and support Islamic banking, confirming the bank’s continuity to implement its strategic plan which proved its success.

The growth of the bank’s assets including (restricted investment accounts, Muqarada bonds and investment by proxy accounts) reached about 6.4 percent and amounted to about $ 5.8 billion compared to $ 5.5 billion at the end of 2014 with an increase of about $347 million. (T/Imt/R04)

Mi’raj Islamic News Agency (MINA)