Jordan Kuwait Bank earns 148.4 million dinars
30-10-2024 02:02 PM
Ammon News - Jordan Kuwait Bank Group disclosed its financial performance for the nine months ending September 30, 2024, reporting net earnings of approximately 148.4 million dinars, up from 72.1 million dinars in the corresponding period of the prior year.
The Bank's Chairperson, Sheikha Adana Al-Sabah, remarked on the results, noting that despite political turmoil globally and in neighboring countries, the Group continues to make progress with record profits and a strong financial position maintained by a solid capital adequacy ratio.
The Bank's CEO, Mr. Haitham Al-Battikhi, shared his satisfaction with the results and emphasized the importance of their strategic plan in delivering top banking solutions to customers in Jordan, Cyprus, and Iraq for sustainable growth. Al-Battikhi examined the key financial indicators and ratios, with net profits rising by 105.8% from the previous year to reach 148.4 million dinars, assets increasing by 10.2% to surpass 5.7 billion dinars, and equity expanding by 16.5% to reach 847.9 million dinars. The ROE surpassed 25%, while the CAR hit 21.77%. Sheikha Al-Sabah expressed gratitude to the group's clients and shareholders for their trust, as well as to the regulatory authorities in Jordan, Cyprus, and Iraq for their ongoing support. Additionally, she thanked the Board of Directors, Executive Management, and all employees for their contributions to our current prestigious standing.