Ammon News - AMMONNEWS - Jordan Islamic Bank,, a subsidiary of Bahrain-based Al Baraka Banking Corp, reported on Wednesday a nine percent rise in first-quarter net profit to 11.4 million dinars ($16 million) compared to the same level last year.

The bank, the oldest of the four Islamic banks operating in Jordan and the largest in terms of assets, said the results reflected steady growth in Islamic banking services.

Its assets had risen slightly to 3.88 billion dinars by the end of March, compared with 3.86 billion dinars at end of 2014, while customer deposits were also barely changed at 3.48 billion dinars against 3.47 billion dinars at the end of last year, it said in a statement.

*Reuters