JD 66.1 million Profits of JIB after tax for the year 2024

10% growth rate of Total Revenues

JD 66.1 million Profits of JIB after tax for the year 2024

Jordan Islamic Bank achieved an increase in its total revenues for the year 2024 to reach about JD 321 million compared to about JD 292 million in 2023, with a growth rate of 10%, and achieved profits after tax of about JD 66.1 million compared to JD 62.3 million at the end of 2023, with a growth rate of 6.1%.

Mr. Abdullah Al-Howaish, Chairman of the Board of Directors of Jordan Islamic Bank, expressed his satisfaction with the financial results achieved in 2024, which were approved by the Board of Directors and recommended in its meeting on 2/11/2025 to distribute cash dividends to shareholders at a rate of 25% of the nominal value of the share for the year 2024, with a total amount of JD 50 million, during the Bank’s regular General Assembly meeting that will be held on 28/4/2025.

Mr. Abdullah Al- Howaish praised the efforts of the executive management and all employees of the bank and its clients to achieve these results, which reflect the bank’s continued achievement of sustainable growth and are in line with the aspirations of the Board of Directors and confirm the soundness of the approach and Implementation  in facing the various geopolitical challenges surrounding the region and the world and confirm the strength of the bank’s financial position and investment of resources in a way that achieves growth and development in various financial indicators that serve the national economy and the development of the local community. 

For his part, Dr. Hussein Said, CEO of Jordan Islamic Bank, said that the growth achieved by the bank in various financial indicators for the year 2024 reflects the efficiency in managing assets and liabilities, the ability to implement a flexible strategy aimed at facing various challenges, the strength of the financial position, commitment to governance and compliance requirements and facing risks, so that the bank can enhance its leading position in the Jordanian banking market, and work on diversifying and expanding digital banking services and products, financing and investments that meet the needs of its customers, as assets, including (Off–balance Sheet accounts under management), amounted to about JD 6979.5 million, compared to JD 6422.5 million at the end of 2023, an increase of about JD 557 million and a growth rate of about 8.7%. 

As a result of the bank’s interest in diversifying the investments of funds and directing them to different sectors of individuals, companies, small and medium enterprises and their geographical distribution, this is reflected in financing and investments, including (Off–balance Sheet accounts under management), which amounted to about JD 5730.6 million, compared to about JD 5336.2 million at the end of 2023, an increase of about JD 394.4 million and a growth rate of about 7.4% In confirmation of the customers’ confidence in the bank’s services and products, customer deposits, including (Off–balance Sheet accounts under management), reached approximately JD 6,285.4 million, compared to about JD 5,760 million at the end of 2023, with an increase of about JD 525.4 million and a growth rate of about 9.1%.

 

Confirming the strength of the bank's capital base, equity at the end of 2024 amounted to about JD 562.1 million dinars, compared to about JD 540.4 million at the end of 2023. The return on equity amounted to about 12%, the Capital Adequacy Ratio (CAR) amounted to about 20.4%, and Non- Performing Financing (NPF) reached about 2.62%. It is worth noting that these results are preliminary and subject to the approval of the Central Bank of Jordan.

Dr. Hussein SaId pointed out that the bank seeks to achieve further development and growth in all its businesses by continuing to implement the bank’s strategy for digital transformation and providing flexible banking solutions that are characterized by efficiency, reliability and excellence in banking services that are compatible with the provisions and principles of Islamic Sharia, and developing and implementing a clear roadmap for all the bank’s strategic initiatives and projects for the next five years in a way that ensures sustainable growth through a unique strategy that reflects the bank’s values ​​and objectives.