Jordan’s Housing Bank for Trade and Finance achieved a 5.7 percent increase in first-quarter net profit to $36.5 million, it said in a statement on Monday.
Assets were $9.9 billion at the end of March and customer deposits stood at $6.8 billion, said the bank, which gave no comparative figures.
Housing Bank for Trade and Finance is the country’s number-two lender. Its main shareholder is Qatar National Bank, with a stake of over 35 percent.
The bank, which has the largest branch network in the country, said it had set aside provisions for bad loans that exceeded central bank requirements, but gave no figures.
“The bank’s strategy is based on prudent risk management and effective utilisation of funds that enabled the bank to build a strong capital base,” said Chairman Michel Marto.
The bank’s total capital adequacy ratio reached 18.5 percent at the end of March, well above the regulatory standard of 12 percent.
Jordan’s aid-dependent economy has been hurt by sluggish private sector growth, while regional political uncertainty has cast a shadow over investment.
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