CAB

The General Assembly of Cairo Amman Bank Shareholders approves the results of the Bank for the year 2018 And decides distribution of cash dividends by 9% and stock dividends by 5.56%

Date: 
Tue, 2019-04-23

The General Assembly of Cairo Amman Bank approved in its ordinary meeting which was held on Monday 22/4/2019 distribution of cash dividends to shareholders by an amount of 90 fils per share meaning 9% of par value of the share. Profits before income tax for the year 2018 have amounted to 42 million dinar, while profits after income tax related to the Bank's shareholders amounted to 30.1 million dinar.
 
The General Assembly in its extraordinary general meeting also approved the Bank's capital increase by an amount of 10 million dinar through the distribution of stock dividends by 5.56% so that the Bank's capital becomes 190 million dinar. The Chairman of the Board of Directors Mr. Yazid Al-Mufti has pointed out that the Bank and thanks to its successful strategy, conservative policy and prudent risk management, in addition to its commitment to the best standards of banking business, was able to achieve results approximate those of the estimated budget, where assets of the bank have grown by 5.1% to reach 2935.4 million dinar, customers deposits have grown by 9.4% to reach 1913.9 million dinar and the balance of credit facilities increased by 7.3% to reach 1649.9 million dinar with maintaining the quality of the portfolio, where the rate of non-working facilities amounted to 4.24% 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 8.95%, while capital adequacy ratio amounted to 15.21% 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 2019 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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