JD 52.6 million the profits of JIB before tax for the first half of 2022

During the first half of 2022, Jordan Islamic Bank achieved profits before tax amounted to about JD 52.6 million, compared to about JD 49.7 million for the first half of 2021, with a growth rate of 5.8%, and after tax profits amounted to about JD 33 million, compared to about JD 31.1 million, with a growth rate of 6.2%. The bank's total revenues for the first half of 2022 amounted to about JD 129.8 million, compared to about JD 122.5 million for the first half of 2021, with a growth rate of 5.9%. The Chairman of the Board of Directors of Jordan Islamic Bank, Mr. Musa Shihadeh, said that the Board of Directors approved the financial statements until 30/6/2022, considering that the results achieved by Jordan Islamic Bank in the first half of this year reflect the bank’s ability to continue growth by the grace of Allah and the solidity of its financial position, the quality of its assets, and the policy it pursues in light of the post-Corona pandemic and the political and economic turmoil in the region and the world and its reflections on the business environment. He praised the performance of the executive management and employees of the bank and the aspirations of the board of directors to achieve the best results that benefit everyone and enhance the confidence and satisfaction of the bank’s customers, so that the bank won many awards as the best Islamic financial institution and the best Islamic bank in Jordan for the year 2022 from several international institutions (Global Finance and The Banker....etc.). Regarding the financial statements during the first half of this year, CEO/General Manager of Jordan Islamic Bank, Dr. Hussein Said, expressed his pride in the results achieved until 30/6/2022, which showed an increase in most of their numbers to confirm the sound of Implementing the Bank's strategy aimed at facing various challenges and achieving progressive achievements in various indicators. As the bank’s assets, including (specified investment accounts and wakala investment accounts (investment portfolios)) until 30/6/2022 amounted to about JD 6.009 billion, compared to about JD 5.953 billion as on 31/12/2021, and customers’ deposits, including ((specified investment accounts and wakala investment accounts (investment portfolios)) amounted to about JD 5.362 billion compared to about JD 5.283 billion at the end of 2021, with a growth rate of 1.5%. The facilities and investments, including (specified investment accounts and wakala investment accounts (investment portfolios)) during the first half of this year amounted to JD about 4.884 billion, compared to about JD 4.741 billion at the end of 2021, with a growth rate of 3.0%. Dr. Hussein Said said that these achieved results were reflected in the bank's main performance indicators, as the return on equity reached 13.2%, the Capital Adequacy Ratio (CAR) 22.9%, the Non- Performing Financing (NPF) reached 2.8% and the coverage ratio of Non- Performing Financing (NPF) reached 108.1% Dr. Hussein Said added that the bank continues to implement its strategy aimed at achieving growth in all fields, facing various challenges, avoiding risks, diversifying the bank’s activities, investments and financing, providing the latest banking services and products in accordance with the provisions and principles of Islamic Sharia, and enhancing digital transformation by continuing to implement incentive and encouragement campaigns for our bank’s customers to pay their bills through the bank’s electronic channels, Islamic Mobile and Islamic Internet, by allocating 800 cash prizes until the first half of this year. The bank also leads the first place with the largest number of ATMs among banks operating in the Kingdom with 307 ATMs, 75 of which provide cash deposit service. In addition to other services while continuing to increase their number until the end of this year, in addition to the geographical expansion in the Jordanian banking market, during the first half of this year. Where a banking office was opened at the World Islamic Science & Education University, so the Bank has 110 branches and offices spread throughout the Kingdom. In order to enhance the Bank’s role in assuming its social and economic responsibilities, the Bank participates in various initiatives that contribute to moving the wheel of development and its positive impact on the national economy and the local community. During the first half of this year, the bank joined to the "Bunna" platform for Arab payments, affiliated with the Arab Regional Payments Clearing and Settlement organization, owned by the Arab Monetary Fund, to be the first Jordanian Islamic bank to join the platform and launch the clearing and settlement service in Arab and international currencies, after the bank has met all the criteria and conditions for participation in the platform, foremost of which are the standards and procedures for compliance aspects, the bank also signed a joint cooperation agreement for the program to support the installation of solar cell systems and solar heater systems for the home sector, the second phase, with the Ministry of Energy and Mineral Resources / the Renewable Energy and Energy Rationalization Fund, to contribute to reducing the monthly electricity bill for the home sector.