AMMAN: Jordan Islamic Bank reported 2014 net profit of 45.1 million dinars, the same level as the year-ago period. Its assets had risen to 3.86 billion dinars by the end of December 2014, compared with 3.52 billion dinars at end of 2013, an increase of 9.4 percent.
The bank, the oldest of the four Islamic banks operating in Jordan and the largest in terms of assets, said in a statement the results showed robust growth in Islamic banking services. “The continued growth in the financial indicators of the bank reflect an ability to manage assets and investments and attract savings and develop services according to principles of Islamic Sharia,” Musa Shehadah, the bank’s general manager said.
The bank’s capital adequacy ratio stood at 20.9 percent at end of 2014, higher than a minimum 12 percent set by the central bank while the financing and investments portfolio stood at 2.63 billion dinars, up from 2.50 billion dinars at the end of 2013.
