CAB

The General Assembly of Cairo Amman Bank Shareholders adopts the results of the Bank's business for the year 2019

Date: 
Wed, 2020-06-10

 

The General Assembly of Cairo Amman Bank during its ordinary meeting which was held via online visual communication on Wednesday June 10th 2020 approved the financial statements and all items on the agenda. Profits before income tax for the year 2019 have amounted to 44.2 million dinar against 42 million dinar, while profits after income tax related to the Bank's shareholders amounted to 28.1 million dinar.

The Chairman of the Board of Directors Mr. Yazid Al-Mufti has pointed out that the Bank and thanks to its strategy, conservative policy and prudent risk management, in addition to its commitment to the best standards of banking business, was able to achieve fair results, where assets of the bank have grown by 6.8% to reach 3,133.8 million dinar, customers deposits have grown by 7.16% to reach 2,051 million dinar and the balance of credit facilities decreased by 3.1% to reach 1,599.1 million dinar with maintaining the quality of the portfolio, where the rate of non-working facilities amounted to 4.84% which is less than the average within the banking sector in Jordan. This is the situation and rates of return on equity rights amounted to 8.19%, while capital adequacy ratio amounted to 18.01% which is higher of the rates determined by the Central Bank of Jordan.

Mr. Yazid Al-Mufti noted that the bank will continue during the year 2020 to implement its policy and strategic plan for the development of its business through maintaining the rates of liquidity and the quality of the credit portfolio, in addition to contribution to supporting the local community as being part of the Bank’s social responsibility.

At the end of the meeting, Mr. Yazid Al-Mufti thanked the Bank’s customers and shareholders for their confidence and continued support which enabled the Bank to achieve these results, and the Bank’s employees for their hard work, loyalty and dedication and the Central Bank of Jordan for its dedicated efforts and continued support, looking forward to achieving more progress and success in the coming years.

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