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Housing Bank Group Q3 profits up to JD79.9 million

Jordan Daily – The Housing Bank for Trade and Finance announced that the Group reported a net profit of JD79.9 million for the first nine months of 2021.

 ​The Group continued to report strong results during the first nine months of 2021 across main financial indicators. Total credit facilities increased by 1.4% to reach JD4.7 billion as at end of September 2021.

Commenting on these results, Abdel Elah Al-Khatib, chairman of the board of directors, said that the Bank continued to perform strong results during the first nine months of 2021 as a result of its efforts to diversify income sources and enhance operations efficiency, in light of the decrease in interest rates and non-interest income as a result of COVID-19 pandemic.

Al-Khatib added that the Group continued its conservative approach during the first nine months of 2021 to build additional loan loss provisions in order to protect the Bank’s assets and enhance the solidness of its financial position.

Ammar Al-Safadi, Chief Executive Officer, stated that the Bank continued its efforts to improve the efficiency of the Bank operations.

Al-Safadi added that the Bank maintained strong capital base, with total shareholders’ equity increased by 2.5% to reach JD1.2 billion as at 30 September 2021. Capital adequacy ratio and liquidity ratio reached 17.0% and 126% respectively as at 30 September 2021, both ratios are well above the Central Bank of Jordan and Basel requirements. 

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