The Bank has achieved results during 2012 better than those in the last year. Net pretax profits were (142.2) million JD, compared with (135.7) million JD in the last year, while net post tax profits were (104.5) million JD compared to (100) million JD in the last year" as stated by Michel Marto, Chairman of the board of directors of the Housing Bank.
Pursuant to conservative policy followed by the Bank in dealing with non-performing loans, establishing convenient and appropriate provisions is continued to face any risks may be resulted from stumbling some loans.
Financial statements have shown the increase of total assets by (2.2%) reaching (7.1) billion JD, while total deposits increased by (3.6%) reaching (5.6) billion JD. Net credit facilities portfolio increased by (7.3%) reaching (2.7) million JD, and equity was (1.05) billion JD. These positive results was realized although the decline of the Syrian lira affecting the corresponding balances in the budget of the International Bank for Trade & Finance/Syria, affiliated bank, as the Syrian lira has declined by (28%) during 2012.
In addition to these achievements, growth in solvency indicators, as capital adequacy was (19%), which is more than decided by Basel Committee 2 (8%) and required by the Jordanian Central Bank (12%) reflecting the durability and strength of the Bank's financial position. Asset revenue increased to reach (1.49%) and equity revenue to (10%). Liquidity ratio was (148%) by (48%) increase than the acceptable minimum according to instructions by the Central Bank. Loans to deposits was (56.7%), and efficiency index (expense/income ratio) improved from (38.6%) in 2011 to reach (36.1%) in 2012, a good level compared with realized levels in local and regional banks.
External branches of the Bank in Bahrain and Palestine has realized during 2012 good growth and increase in profits, deposits, loans, and credit facilities compared with the last year. Subsidiary in Algeria and UK have also achieved good results, while performance the subsidiary bank: International Bank for Trade and Finance/ Syria was affected as expected as a result of difficult conditions facing Syria. However the financial position of this bank remain sound as keeping good solvency and proper liquidity, as indicated by Marto.
The board of directors recommended in its last shareholder meeting to distribute profits among shareholders for 2012 amounting to (63) million JD, i.e. (25%) of the nominal share value, according to these good results.
On this occasion, Marto emphasized that realizing these positive results was as a result of prudent and conservative policies followed by the Bank in dealing with different and updated circumstances, expansion of work within prudent policy for risk management and advanced level in service delivery provided by the Bank for clients and distinguished efforts exerted by the Bank's employees on all levels.
Finally, Dr. Marto praised the Bank's solvency, durability of capital base, and integrity of credit and investment portfolios. He also expressed special thanks for the Bank's clients and their trust in its distinguished services, and for all employees who show high efficiency in client service.
"Noting that these results are preliminary and subject to the approval by the Central Bank"