The bank said that its net profits after tax reached $41.04 million compared to $39.35 million for the year 2009 and with a growth of 4.3 per cent.
The Bank’s Board of Directors led by Adnan Ahmad Yousif, the President and Chief Executive of ABG approved the financial statements and recommended a cash dividends of 15 per cent of the bank’s capital.
Adnan Yousif expressed how gladly he received the developments the bank witnessed in 2010 by launching its new corporate identity and getting credit ratings and global prizes asserting that the bank makes significant progress towards growth, expanding and diversifying its products.
Musa Shihadeh, Vice Chairman and General Manager of JIB, said the bank was able to strengthen its position in the Jordanian banking sector through the obvious growth reflected in its financial indicators till end of 2010.
The total deposits reached at end 2010 $3.306 billion compared to $2.721 billion in 2009 with an increase of $585.33 million by a growth of 21.6 per cent.
The bank runs money in specified investment, investment portfolio and investment by proxy that reach around $390.69 million. Shihadeh added that clients’ deposits with the managed accounts added to reach at end 2010 about $3.657 billion compared to $3.085 billion at end 2009 with a growth ratio of 18.5%.
Shihadeh indicated that the increase in finance and investment volume at end 2010 reached about $ 217.21 million to become $2.063 billion compared to $1.846 billion as at end of 2009 and with a growth of 11.8%, which shows the development of the bank’s activities in the various investment and financing activities.
The total assets at the end of 2010 reached around $3.673 billion compared to $3.079 billion as at the end of 2009 with an increase reaching $593.79 million and with a growth of 19.3 per cent.
The total of the bank’s balance including the managed accounts reached as at the end of 2010 about $4.063 billion compared to $3.487 billion with a growth of 16.6 per cent as at the end of 2009 .
Shihadeh added that Joint investment profits before distribution reached about $142.45 million, the general percentage for distributing profits to JD accounts reached 3.89 per cent and in foreign currencies 0.72 per cent and it is among the highest returns rate distributed to the depositors.
Capital adequacy ratio reached at the end of 2010 around 12. 86 per cent based on Basel II standard and around 21.5 per cent according to Islamic banks ‘standard issued from the Central Bank of Jordan.
Shihadeh stated that shareholders’ equity during 2010 reached about $273.06 million compared to $249.37 million at end of 2009 and with a growth of 9.5 per cent. The return on paid up capital (EPS) reached 29.1 per cent.
“The share of our bank to the total assets of banks working in Jordan at the end of 2010 reached 8.2 per cent, to the total of other banks’ saving schemes 11.3 per cent, and to the balances of finance and investment for other banks reached 11.8 per cent,” he said.