The general authority of Jordan Bank approves the distribution of profits to shareholders at a rate …
The ordinary public authority for the actions of the Bank of Jordan held its meeting on Thursday, March 27, 2025 at one o’clock in the afternoon by audiovisual communication, based on the provisions of article (6 / f) of the law on Jordanian companies. Instructions for the implementation The procedures for holding the assembly of the General Authority of Public Joint Companies for the Year 2017 and its modifications.
The meeting was chaired by His Excellency, Mr. Shaker Fakhoury, President of the Bank of Jordan, in the presence of members of the Board of Directors and the Director General of the Bank and shareholders holding the shares of “Asala and Agency”, represent 76.14% of the bank’s capital. The assembly was also assisted by the general observer of the companies, delegate of the central bank of Jordan, delegate of the Palestinian monetary authority, and delegates, accepting the banks of the bank “Deloit & Tosh”.
The general authority examined the results of the banking activities because the total income of the Banque de Jordan recorded 170 million dinars, driven by operational activity, and the net advantages and the commissions represented 94% of total income. The bank also recorded a net profit belonging to the shareholders of the bank of 35 million dinars, a decrease of 20.5% compared to the year 2023, due to the additional credit allowances which were monitored to meet the impact of the banks of the Bank in the Gaza Strip and the West Bank, in addition to the costs of establishment of the Bank branch in the Kingdom of Saudi Arabia. On the Iraqi market, the Bank of Jordan – Iraq has obtained positive results, because net profit reached 3.2 million dinars, recording growth of 403%, while customer deposits increased by 9.6%, which reflects customer confidence in the bank. The volume of assets increased to 3.2 billion dinars, with growth of 4%, and shareholders’ rights increased to 528.3 million dinars. Customer deposits also recorded growth of 3.8% to 2.3 billion dinars, while the credit facilities portfolio (in AL -SAFI) increased by 4.6% to record 1.5 billion dinars, which reflects the bank’s strategy by granting a credit. Despite the challenges, the bank has maintained solid liquidity levels, because the legal liquidity rate reached 151.1%, and the rate of liquidity coverage is 449.2%, while the percentage of the adequacy of capital recorded 20%, exceeding the regulatory requirements according to III, which reflects the duration of the bank’s financial situation.
The bank continued to achieve excellence and sustainable growth, as it launched in 2024 the complete institutional transformation strategy aimed at diversifying investments, improving geographic presence and redefining institutional identity, emphasizing digital transformation and innovation. The bank also intends to open three new branches in Iraq, in addition to the launch of its operations in Saudi Arabia during the first half of 2025.
The general authority of the Bank approved the report of the Board of Directors and the Bank’s financial data for the year 2024, and the future plan for the year 2025. The general authority also agreed to distribute profits to shareholders by 18% of the nominal value on the part and with an amount of 36 million dinars, and the general authority approved the meeting of the AL LOLOUA for the board of directors, administration.
Mr. Shaker Fakhoury thanked the members of the board of directors for their distinguished efforts and their precious contributions; This has had a great impact on the support of the bank’s march and improving its position in the banking sector during the council mandate in the past four years. A new board of directors was also elected to the Jordan Bank for a period of four years, from his date, which includes both: Shaker Tawfiq Fakhoury, Walid Tawfiq Fakhoury, Muhammad Saed Ishaq Jarallah, Yousef Jean Shamoun, Samir Saeed Murad, Hala Muhammad Sarraj, Al Alle for general investments, Al Luloua for general investments, Al Yamama for general investments, Pharaohs International Industrial Investments Company.
In conclusion, Mr. Shaker Fakhoury expressed his thanks to shareholders and customers for their continuing confidence in the bank, and also thanked the management team and all the employees of the bank for their efforts in carrying out the achievements. He also expressed his assessment to national institutions, in particular at the central bank of Jordan and at the Ministry of Industry and Trade, for their effective role in the support and development of economic sectors, in the light of the Sage Direction of His Majesty the King Abdullah II Ibn Al -Hussein, may God protect and preserve it.
