BANKING

Jordan's Bank al Etihad says 2014 net profit rose 17.5%February 16, 2015

Jordan's Bank al Etihad said on Sunday 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...

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Banks required to ease credit — CBJ governorFebruary 15, 2015

The Central Bank of Jordan (CBJ) lowered its basic interest rates twice in 2013 and 2014 with a total of 125 points, yet banks’ response to these procedures was not as expected in terms of credit facilities, CBJ Governor Ziad Fariz said.


Such a response made CBJ develop its tools in a way that helps banks enhance their abilities to maintain their"...

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Jordan-Kuwait Bank posts 5.8% rose in 2014 net profitFebruary 14, 2015

Jordan-Kuwait Bank posted a 5.8 percent rise in 2014 net profit to 50.2 million dinars ($70.8 mln) on Thursday helped by a fall in non-performing loans and growth in corporate and retail banking. The bank, majority owned by Kuwait's Burgan Bank , said assets rose 2.6 percent to 2.6 billion dinars.


"We have improved the quality of our credit portfolio and reduced our"...

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UPDATE 2-Jordan c.bank cuts rates by 25 bps as inflation slowsFebruary 3, 2015

Jordan's Central Bank said on Monday it would cut its benchmark lending rates by 25 basis points on Tuesday, its first reduction since last June, following a record build-up in foreign reserves and an improved inflation outlook.


The Central Bank of Jordan (CBJ) said it would trim its discount rate to 4.00 percent and"...

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Housing Bank lifts net pretax profit to record JD162.1mFebruary 2, 2015

The Housing Bank for Trade and Finance (HBTF) generated JD162.1 million net pretax profit last year, according to an HBTF press statement received on Sunday. The statement described the amount as unprecedented, noting that net pretax profit in 2013 came at JD150.1 million.


According to the statement, net after-tax"...

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