Housing Bank ups pretax profit by 8% to JD132m during first 9 months of 2015

AMMAN — The Housing Bank announced Sunday in a press statement that it increases its pretax profit by 8 per cent to JD132 million by the end of the third quarter of 2015, compared with JD122.2 million recorded during the corresponding period of last year.

"Net profit after tax amounted to JD93.1 million, 3.2 per cent higher than the JD90.2 million in the same period of 2014," the statement indicated, noting that the income tax rate rose from 30 per cent in 2014 to 35 per cent this year.

Chairman Michel Marto attributed the results to the successful operations that relied on a prudent strategy. According to the statement, total assets went up to JD8 billion, an increase of 4.7 per cent from the end of 2014, customer deposits rose 6 per cent to JD5.8 billion, and net credit facilities portfolio surged 34.2 per cent to JD3.6 billion.

Performance indicators showed capital adequacy at17.5 per cent and liquidity ratio at 137 per cent, higher than the rates required by the Central Bank of Jordan. Return on assets came at 1.6 per cent, return on equity at 12.1 per cent, as the ratio of total loans to customer deposits was about 68 per cent.