Amman: Jordan’s Housing Bank for Trade and Finance, the country’s second largest lender, posted a 16.4 per cent increase in first-half net profit to $86.2 million (Dh316.61 million) due to better utilisation of funding in core activities, it said in a statement on Saturday.
Assets stood at $10.7 billion at end of June, up 5 per cent from the end of 2013. The bank’s main shareholder is Qatar National Bank, with a stake of over 35 per cent.
“The results reflect a strategy based on attracting more sources of capital and utilising them more effectively,” said Chairman Michel Marto, adding that customer deposits rose 3.6 per cent to $7.5 billion compared to the end of last year.
The bank’s credit portfolio stood at $4 billion, a 5.2 per cent rise over the same period.
The bank’s total capital adequacy ratio reached 17.6 per cent at the end of June, well above the regulatory standard of 12 per cent, the bank said.
The bank, which is one of the largest foreign banks operating in Syria, said its operations in the country were performing well despite the unrest. It gave no details.
