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    BANKING

    JIB registers net profit of $46.8 millionOctober 28, 2014

    Jordan Islamic Bank (JIB), a subsidiary banking unit of Al Baraka Banking Group, registered net profits after tax of $46.83 million and before tax of $66.43m in the third quarter of this year.


    JIB chairman and ABG president and chief executive Dr Adnan Ahmed Yousif commended the efforts of the executive"...

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    Arab Bank starts appeal against Hamas finance rulingOctober 26, 2014

    Arab Bank Group said it had begun legal steps to appeal a US jury ruling which found it liable for financing Islamic group Hamas.


    The US civil lawsuit brought against the Jordan-based bank has been described by lawyers as the first of its kind to reach trial. Jurors last month found it was liable for giving material support to Hamas and said it must compensate victims of two dozen attacks attributed to the group in Israel and the Palestinian territories.

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    Jordan's Housing Bank posts USD 172.4 mln profit in nine monthsOctober 26, 2014

    Jordan's Housing Bank for Trade and Finance , about 19 percent of which is Kuwaiti-owned, has realized USD 172.4 million in profit during the first nine months of the year, it announced on Saturday.

    This marks a rise of 11 percent compared to profit worth USD 155.4 million the same period last year, according to data revealed by the Bank.

    Post-tax profit for the period January-September 2014 reached USD 127.2 million, a 14.5 percent decrease compared to USD 111.1 percent in the first nine months of 2013.

    Bank assets rose to USD 10.6 billion by the end of the third quarter...

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    Bank of America Reports Third-quarter 2014 Net Income of $168 Million on Revenue of $21.4 Billion(A); Loss of $0.01 per Share After Preferred DividendsOctober 20, 2014

    Results Include DoJ Settlement Costs of $5.3 Billion (Pretax) or $0.43 per Share (After Tax)

    Continued Business Momentum

    • Four of Five Businesses Report Higher Net Income Compared to Year-ago Quarter
    • Originated $14.9 Billion in Residential Home Loans and Home Equity Loans in Q3-14, Helping More Than 43,500 Homeowners Purchase a Home or Refinance a Mortgage
    • More Than 1.2 Million New Credit Cards Issued in Q3-14, With 64 Percent"...

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    QNB Group Financial Results for the Nine Months Ended 30 September 2014October 12, 2014

    QNB Group, one of the World’s Strongest Banks and the leading bank in the Middle East and North Africa, announced its results for the nine months ended 30 September 2014.


    For the nine months of 2014, Net Profit was QR8.0 billion (USD2.2 billion), up by 12.6% compared to last year.


    The Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of"......

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    Finance expert says banks should facilitate loans for promising entrepreneurial projectsOctober 2, 2014

    Banks should provide more support to entrepreneurial projects by having their experts evaluate innovative business ideas and fund those found to be the most feasible without requesting the usual loan guarantees from entrepreneurs, according to a banking expert.


    “Most entrepreneurs do not have bank assets or records, which are required for loans,” Mefleh Aqel said in a lecture earlier this week on the obstacles facing funding for entrepreneurs.

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    European Bank finances first solar power plant in JordanOctober 2, 2014

    The European Bank for Reconstruction and Development (EBRD) is providing a USD 25 million loan for the construction and development of a 20 MW solar photovoltaic power plant in the Kingdom.

    In a statement, the bank said on Wednesday that the new plant which aims at helping address the country’s energy shortages through utilizing its world class solar resource, is located 13 km south east of the city of Ma'an in southern Jordan. It"...

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    Panasonic and Coronal Group Complete Nine Solar Projects to Provide Clean, Renewable Energy to Southern California Edison CustomersOctober 2, 2014

    Panasonic Enterprise Solutions Company (Panasonic) and Coronal Group LLC (Coronal) announce the completion of nine solar projects in Tulare and Kings Counties in Central California. The projects provide 16.2 MW of energy to Southern California Edison’s grid to power approximately 14,500 homes annually.


    “Significant solar projects are beneficial to the economy"...

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