Complex Made Simple

Jordanian banks’ assets hit JOD56.5 billion last year

Net profit after tax increased by JOD82.3 million to reach JOD 931.2m by end of 2014

Bank assets in Jordan increased by $5.3 billion during 2014 and reached $56.5bn, with a growth rate of 6.5 per cent, a recent study shows.

The largest growth was for the Arab Bank, with an increase in assets by $1.3bn, representing 8.45 per cent of the total increase in banks’ assets, adds the study.

The study, titled “Key Performance Indicators for Banks in Jordan,” was prepared by Shaher Suleiman, the head of the risk management and compliance group at Jordan Kuwait Bank, reports Jordan-based Alrai newspaper.

According to the study, the Jordanian banking sector’s performance in 2014 was good in general, despite the implications of the absence of economic and political stability prevailing in the surrounding area, which affected the local economy, particularly the real estate sector and the stock market.

Banks’ net profit after tax increased by JOD82.3 million to reach JOD 931.2m by the end of 2014, with a growth rate of 11 per cent. Arab Bank, Housing Bank, and Jordan Kuwait Bank maintained their lead positions in terms of net profit, achieving JOD 359.7m, JOD123.9m and JOD 46.8m respectively.

(JOD1 = AED5.19, at the time of publishing)