Bank of Jordan: Holds Annual General Meeting and Approves Distribution of 18% Cash Dividends Worth JD 36 Million

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Date: 03/04/2022

(Amman, Jordan – March 2022): Bank of Jordan held its Ordinary General Meeting of Shareholders on March 31, 2022, chaired by Chairman of the Board, Shaker Tawfiq Fakhouri. Held by videoconference, it brought together shareholders present or represented, constituting ……..% 75.419% of the capital. During the meeting, the General Assembly approved the recommendation of the Board of Directors of the Bank of Jordan to distribute cash dividends to shareholders at the rate of 18% for the year 2021, with a total value of 36 million JD.

On the occasion, Mr. Fakhouri indicated that the bank has been able to maintain good results, thanks to its global strategy which aims to achieve sustainable performance at all levels, in line with the fluctuations of the business environment, in relying on the robustness of its basic banking system. operations, its operational efficiency, the integrity and quality of its credit and investment portfolios, and its prudent risk management. The bank achieved a net profit attributable to shareholders after taxes and provisions of JD 36 million, compared to JD 35.8 million for the year 2020, representing a growth of 0.6%.

Reviewing the bank’s performance for the year 2021, Mr. Fakhouri said that it recorded a growth in equity of 4.1% at the end of 2021 compared to 2020, to reach JD 473.4 million, with an average return on equity. by 7.8%, while the equity ratio reached 19.2%, indicating the solidity of the bank’s financial situation and its equity. The bank maintained the quality of its assets, which amounted to JD 2.7 billion, with a return on average assets until the end of the year at 1.3%. Its net portfolio of credit facilities increased by JD19.4 million (at amortized cost) to reach JD1.5 billion, with more than 100% coverage of non-performing facilities. Customer deposits amounted to JD 1.9 billion, which is in line with the previous year 2020.

Mr. Fakhouri added that the bank continues to implement a business model focused on growth, expanding into new markets and upgrading its digital services. Today, Bank of Jordan maintains a presence in Palestine, Syria and Bahrain, and a branch will open in Iraq in the second half of 2022. The bank is currently exploring new opportunities for growth and expansion in the Arab region, especially in countries experiencing rapid economic growth.

Bank of Jordan successfully completed a number of strategic projects and initiatives in 2021. In addition, the bank strives to exceed the expectations of its customers and provide them with a full range of services, products and solutions. , through various channels, including advanced digital channels. .

Mr. Shaker Fakhouri expressed his gratitude and appreciation to the Board members for their support which has enabled the bank to achieve its prestigious status, to the shareholders and customers for their continued confidence in the Bank of Jordan Corporation, and to bank employees for their efforts to provide the highest level of customer service. He also thanked all national institutions, led by the Central Bank of Jordan and the Ministry of Industry and Trade, for their role in supporting the economic sectors, under the leadership of His Majesty King Abdullah II, may God the protected.

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