Amman: Capital Bank Group announced its financial results for the first half of the current year 2024, which showed outstanding performance on all its financial indicators, while continuing the growth and progress journey initiated by the group during the past years.

According to the financial statements, the group’s net profit increased by 40 percent to reach JD70 million, compared to JD50 million during the same period last year.

“Capital Bank Group continues to achieve strong and distinguished financial performance in the first half of this year, which boosts the group’s financial solidity and emphasizes the effectiveness of its strategy and plans, and the efficiency of its team,” said Bassem Al-Salem, Chairman of the Board of Directors of Capital Bank Group.

According to Al-Salem, the group’s total assets at the end of the first half of this year increased by 7.7 percent to reach JD8.2 billion, pointing out that the net credit facilities granted to customers at the end of June 2024 increased by 2.9 per
cent to JD3.5 billion, while customer deposits increased by about 6 percent to reach JD5.8 billion, which reflects the confidence of the group’s customers, the diversity of its services and the increase in the volume of its financial activities.

Al-Salem attributed the group’s growth during the first six months of this year, which Capital Bank Group achieved by the end of June, to the continued focus on strengthening the core business, improving the efficiency of operations, and expanding the range of products and services to meet the evolving needs of its customers.

For his part, Tamer Ghazaleh, CEO of Capital Bank, said that the group’s total income increased by 38 percent by the end of the first half of this year to reach JD206 million, compared to JD150 million in the first half of 2023, indicating that the group continued to monitor credit provisions in accordance with its prudent credit policy and hedging against economic changes and fluctuations, and in line with plans set to achieve sustainable grow
th.

According to Ghazaleh, net interest income at the end of June increased by 22.3 percent to JD104.6 million, compared to JD85.6 million in the same period last year, and the return on assets improved to 1.8 percent.

For his part, the Managing Director of the National Bank of Iraq, Ayman Abu Dhaim, said that the bank achieved outstanding financial results at the end of the first half of this year, adding that the total direct credit facilities increased by the end of June to reach JD814 million, and total customer deposits reached JD1.86 billion as at the end of the first half.

Abu Dhaim said that the growth of various financial indicators contributed to the increase in the bank’s assets by 26 percent to reach about JD2.7 billion at the end of the first half of this year, compared to JD2.16 billion at the end of last year.

Source: Jordan News Agency