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Profits of 15 banks rise to JD266m in 1st quarter

ASE
Amman Stock Exchange.(File photo: Jordan News)
AMMAN  — Combined profits of 15 banks operating in the local market, whose shares are listed on the Amman Stock Exchange, rose by 29.2 percent in the first quarter of this year compared with the same period last year, according to a study by Sanabel Al-Khair for Financial Investment Co., Al-Ghad News reported.اضافة اعلان

The combined profits of the banks after tax were about JD266 million, compared with JD205.8 million in the first quarter of 2021.

The Arab Bank, Amman branch, accounted for the highest profit in the first quarter, a 98 percent rise to JD142.7 million compared with JD72.1 million for the same period last year.

On the other hand, Capital Bank with a first quarter profit of JD38.6 million, compared with JD56.7 million in the same period last year, showed a 32 percent decline.

The Housing Bank’s profits rose by JD29.3 million, compared with JD24.2 million in the first quarter of last year, an increase of 20.8 percent.

Ranked fourth in terms of profit value, is the Jordan Islamic Bank with a profit of JD15.1 million in the first quarter compared with JD13.9 million in the same period of 2021, an increase of 8.6 percent.

Bank of Jordan ranked fifth with a profit of JD9.9 million compared with JD6.9 million in the same period last year, a rise of 42.2 percent.

In sixth place in terms of the value of profits, came Bank Al-Etihad with a profit of JD8.2 million in the first quarter of this year compared with JD7.7 million for the same period last year, a rise of 7.2 percent.

Cairo Amman Bank ranked seventh with a profit of JD7.69 million compared with JD7.4 million in the first quarter of this year, up by 2.6 percent.

Ranked eighth was Istithmari Bank with JD7.17 million, an increase of 110 percent compared with the same period of time last year.

Jordan Ahli Bank ranked ninth in terms of profit value with a profit of JD3.83 million compared with JD1.6 million, a rise of 133 percent.

Arab Jordan Investment Bank followed with a profit of JD3.8 million, compared with JD3.9 million last year, a decrease of 3 percent.

It was followed by Safwa Islamic Bank with a profit of JD3.55 million in the first quarter compared with JD3.1 million for the same period last year, an increase of 14.6 percent.

The Jordanian Commercial Bank followed with a profit of JD1.75 million compared with JD1.6 million.

ABC Bank followed with a profit of JD1.55 million, a decline of 44 percent compared to the same period in 2021, which was 2.7 million.

The Jordan Kuwait Bank made a profit in the first quarter of this year of JD1.37 million compared to a loss of JD1.1 million in the same period in 2021.

The only bank with losses in the first quarter of this year was Societe General de Banque Jordan by JD8.7 million, compared with a profit for the same period of 2021 of JD1.27 million.


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