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Ammon News - The investment bank - the leading bank in providing innovative banking solutions - announced strong financial results for the third quarter of 2024, recording an increase in its net profits to reach JOD 21.5 million, compared to JOD 19.2 million in the same period last year.

The bank's total profits before tax amounted to JOD 29.6 million at the end of the third quarter of 2024, compared to JOD 26.4 million in the same period last year.

The financial statements also showed an increase in the net credit facilities provided by the bank by 11.7% to reach JOD 1.2 billion by the end of the third quarter of this year, compared to JOD 1.1 billion at the end of last year. The bank's assets also increased by 11.6% during the first nine months of this year to exceed JOD 2 billion, compared to JOD 1.8 billion at the end of last year.

Total customer deposits by the end of September 2024 amounted to approximately JOD 1.4 billion, recording an increase of 13.7% compared to JOD 1.2 billion last year.

Commenting on these results, the Chairman of the Bank’s Board of Directors, Fahmi Abu Khadra, said: “These positive results reflect the Bank’s ability to achieve sustainable growth in a changing economic environment. This performance is attributed to our strategy focused on innovation and providing distinguished financial services that meet the needs of our customers. The growth in the loan portfolio and customer deposits reflects our customers’ confidence in the Bank and its commitment to providing the best banking services.”

Abu Khadra added: “We will continue to work on developing our business and expanding our customer base, while maintaining our distinguished approach to risk management and providing innovative financial solutions. We look to the future with confidence and optimism in our ability to continue this positive momentum and achieve more successes.”

It is noteworthy that the return on equity rate at Al-Istithmar increased at the end of the third quarter of this year to nearly 13%, compared to 12.3% at the end of 2023, and the return on assets at the end of September of this year amounted to 1.4%.