AMMAN: Jordan’s Bank al Etihad said its 2014 net profit rose 17.5 percent to 26.5 million dinars ($37 million) as its deposit base and lending business grew.
Total assets at the end of 2014 rose 17 percent to 2.2 billion dinars from 1.9 billion dinars in the previous year.
Deposits rose to 1.65 billion dinars in 2014, up 37 percent from the previous year. Loans rose 21 percent in 2014. The loan portfolio stood at 1.3 billion dinars at the end of 2014.
The bank’s chairman, Issam al-Salfiti, said the bank reduced net non-performing loans to 5.6 percent last year from 6.57 percent in 2013 as part of a drive to reduce risk.
Bank al Etihad’s board will also propose to the bank’s coming annual general meeting that it raise its capital 15 million dinars to 125 million dinars by distributing bonus shares.
