ASE maintains upward trend, thanks to blue chips

Amman Stock Exchange
AMMAN — The Amman Stock Exchange index maintained cohesion on Wednesday, achieving an increase of 0.13 percent to close at 1,796.24 points, buoyed by the performance of blue-chip shares.اضافة اعلان

The total trading volume was about JD6 million, and the number of shares traded stood at 4.6 million, executed through 2,998 contracts.

The head of the Social Security Investment Fund, Kholoud Saqqaf, announced that the fund’s assets rose to a record JD11.4 billion at the end of the first quarter of this year, compared to 11.2 billion dinars in the size of assets at the end of 2020. (See separate story)

The performance of stocks varied at the sectoral level in Wednesday’s session, with the services sector index dropping by 0.3 percent, the financial sector index increasing by 0.29 percent, and the industrial sector index going up by 0.27 percent.

The Bank of Jordan’s general assembly has approved the recommendation of the bank’s board of directors, chaired by Shaker Fakhoury, to distribute 12 percent as cash dividends to its shareholders for the year 2020.

Fakhoury indicated that despite the exceptional challenges resulting from the coronavirus pandemic, the bank was able to overcome these difficulties, thanks to its strong financial position, solid capital base, allocation adequacy and high liquidity ratios. The capital adequacy ratio reached 19.08 percent, the coverage ratio of provisions for non-performing credit facilities reached 107.2 percent, and the legal liquidity ratio 130.7 percent at the end of 2020.

In terms of the bank’s financial position, total assets recorded JD2.7 billion at the end of 2020. Shareholder equity stood at JD454.7 million. Meanwhile, the bank’s credit portfolio (at amortized cost) amounted to about JD1.5 billion, with an increase of 4.1 percent compared to 2019. The financial assets portfolio also grew by 26.6 percent to record JD448.1 million. Customer deposits were recorded at JD1.9 billion.

By comparing the closing prices of the 80 companies traded Wednesday with their results the day before, 31 companies recorded an increase in the prices of their shares, and 23 companies saw a drop.

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