AMMAN —
Capital Bank Group said its
half-year net profit jumped by 40 percent to JD60.2 million, compared with JD43
million recorded in the corresponding period in 2021, a bank statement said.
اضافة اعلان
Assets also surged by 50 percent, or JD2.2 billion,
buoyed by the acquisition of the Jordan branches of Société Générale Bank,
reaching JD6.5 billion, compared with JD4.3 billion at the end of 2021.
Net credit facilities rose to JD3.2 billion by the
end of June 2022, compared with JD2.1 billion at the end of 2021, a growth of
49 percent.
By the end of June this year, client deposits also
showed an increase of 57.6 percent, or JD4.4 billion, compared with JD2.8
billion at the end of 2021.
Initial statements also showed an increase in
shareholder net assets by 62.4 percent, reaching JD589 million, compared with
JD363 million for the same period in 2021.
Bank Chairman
Bassem Khalil Al-Salem said that in the last few months, the bank initiated
several measures to boost its expansion both locally and regionally.
The group recently finalized a deal with the Saudi
Public Investments Fund, one of the largest and most influential sovereignty
funds in the world, which saw the fund subscribe to 23.97 percent of Capital
Bank’s shares, valued at JD131.2 million, the statement said.
It said the move will have a “positive effect on the
group’s performance and will allow it to enter new markets and expand its
future business”.
“It will also provide the group with a network of
corresponding banks on a regional and global level, as well as allow it to
continue providing the newest and most innovative banking services and products
in Jordan and Iraq,” the statement added.
Salem said that Capital Bank’s acquisition of
Société Générale Bank in Jordan was the second such action taken in less than
12 months, following the acquisition of Bank Audi in Jordan and Iraq in 2021.
Capital Bank CEO
Dawod Al-Ghoul said net operating
profits increased by 45 percent, compared with the same period of 2021,
positively affecting return on equity, which rose to 20.6 percent, after
excluding non-recurring items.
He said that the bank also improved revenues and
proficiently restructured its capital, especially with the issuance of $100
million of perpetual bonds at the beginning of this year in a listing at NASDAQ
Dubai, making Capital Bank the first Jordanian bank to make such a listing at
the region’s international stock market.
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