AMMAN: Jordan’s Housing Bank for Trade and Finance reported first-quarter net profit of 31.4 million Jordanian dinars ($44.3m), barely changed from the 31.3m dinars it earned in the same period a year earlier. Its assets stood at 7.7 billion dinars ($10.8bn) at the end of March, up two per cent from the end of last year, the bank said. Loans stood at 3.3bn dinars, up 12.4pc.
A new income tax law that came into effect this year raised taxes on banks to 35pc from 30pc, it added. Housing Bank for Trade and Finance is the country’s number-two lender. Its main shareholder is Qatar National Bank, with a stake of over 35pc.
‘These results have reflected positively on the main indicators of the bank. We hope to attain better results in the coming periods this year,’ chairman Michel Marto said, adding that customer deposits rose 5.5pc to 5.8bn dinars compared with the end of last year.
