jordan pulse -

The General Assembly of Cairo Amman Bank held its annual ordinary meeting on Monday, 14 April 2025, via virtual and electronic communication, where it approved the bank’s 2024 financial statements and all items on the agenda, including a 6% cash dividend distribution to shareholders.

The bank’s comprehensive income attributable to shareholders after tax for 2024 stood at JD 48.2 million, down from JD 55.4 million in 2023. Net profit after income tax attributable to shareholders was JD 16.6 million, compared to JD 35.3 million in 2023.

The decline in net profit was primarily attributed to a JD 18.7 million year-on-year increase in expected credit loss provisions. The bank set aside JD 48.5 million in credit loss provisions for 2024, compared to JD 29.8 million in 2023, with the increase spread across different classification stages.

Total income for 2024 decreased by JD 6.6 million, or 3.7%, to JD 169.9 million, while total expenses (excluding provisions) rose by JD 7.2 million.

As of the end of 2024, the bank's total assets reached JD 3.9 billion, with total credit facilities at JD 2.4 billion and customer deposits amounting to JD 2.5 billion.

Shareholders’ equity increased by JD 35.2 million to reach JD 473.1 million by year-end. The capital adequacy ratio stood at 16.43%, exceeding the minimum requirements set by the Central Bank of Jordan.

Mr Yazeed Al-Mufti noted that the bank will continue implementing its strategic plan in 2025, focusing on maintaining liquidity and capital adequacy ratios, while also contributing to local community support as part of its social responsibility efforts.

He concluded the meeting by thanking the bank’s clients and shareholders for their continued trust and support, as well as the bank’s staff and the Central Bank of Jordan for its ongoing efforts and backing — expressing optimism for further growth and success in the coming years.