63.8 million JD profits of Jordan Islamic Bank before tax

JIB announced its financial results for the first nine months of 2019, where the bank achieved a profit before tax about 63.8 million dinars compared to about 54.6 million dinars, a growth rate of 16.7% and after tax profits amounted about 39.5 million dinars from about 36 million dinars for the first nine months of 2018 with a growth rate of 9.7%. The Board of Directors of JIB, headed by Mr. Musa Abdelaziz Shihadeh, Chairman of the Board of Directors of the Bank approved the financial statements for the first nine months of 2019. These results showed remarkable growth, expressing his pride in the efforts of the executive management and the bank's employees to achieve the Bank's strategy and the Board of Directors' vision to reach to the best results at all levels and to maintain the positive performance of the bank and its prominent position between the Jordanian banks, which emphasizes the solidity and the bank's solvency, which enhances the confidence of its customers. Which enhances the confidence of our customers and shareholders in the performance of the bank For his part, Dr. Hussein Said, Chief Executive Officer / General Manager of JIB said that the Bank's financial results during the first nine months of 2019 were good and thank God and strengthened the bank's position, and its role in supporting the national economy, the growth in profits, assets, deposits and investments emphasizes the success of management policy in the implementation of strategic plan and continue to diversify and develop banking services The Bank's assets including (restricted investment accounts, Al Wakala bi Istithmar (investment portfolios) amounted about 4.8 billion dinars till 30/9/2019 compared to about 4.6 billion dinars at the end of 2018, a growth rate of 4.6%. Customers' deposits, including (restricted investment accounts, Al Wakala bi Istithmar (investment portfolios) amounted about, 4.3 billion dinars compared to 4.1 billion dinars at the end of 2018, with a growth rate of 4.8%. The facilities granted to customers including (restricted investment accounts, Al Wakala bi Istithmar (investment portfolios) amounted about 3.8 billion dinars compared to 3.6 billion dinars at the end of 2018, a growth rate of 8%. With the increase of the bank's capital to 200 million dinars during the first half of this year, Capital Adequacy Ratio (CAR) until 30/9/2019 amounted to about 22.8 %. The Return on Average Equity (ROAE) reached about 13.18%. The Return on Average Assets (ROAA) reached about 1.25%, which confirms the solidity of the bank's financial position. Dr. Hussein Said that these results increase our determination to strive to exert more efforts and confirm that the bank is moving at a measured pace to meet the different challenges and commitment to the bank's mission and sustainability and continued growth Commitment to the principles of corporate governance and Board Directives, which reflected positively on the results of the bank, while continuing to strive to provide the best Islamic banking services and solutions and the expansion of digital banking services that keep pace with the latest technological developments compliant with the principles of Islamic Sharia.