The Jordan Kuwait Bank Group announced its financial results for the nine months ending September 30, 2024, reporting a net profit of approximately 148.4 million dinars, up from 72.1 million dinars in the same period last year.
Commenting on the results, the bank’s Chairperson, Sheikha Dana Al-Sabah, stated: “Despite the political events impacting the world, particularly in neighbouring countries, and their economic repercussions, the group continues to achieve steady progress, reflected in our record profits and strong financial position, supported by a reassuring capital adequacy ratio.”
The bank’s CEO, Mr. Haitham Al-Batihi, expressed pride in the results, stating: “We are reaping the benefits of our strategic plan set over past years, which centres on delivering the best banking and financial solutions for our clients both locally and regionally through our presence in Jordan, Cyprus, and Iraq. We are confident in the group’s ability to sustain growth.”
Al-Batihi highlighted the key financial indicators, noting a 105.8% increase in net profit to 148.4 million dinars compared to the previous year. Assets grew by 10.2%, reaching over 5.7 billion dinars, while equity increased by 16.5% to 847.9 million dinars. The return on equity surpassed 25%, with a capital adequacy ratio of 21.77%.
Sheikha Al-Sabah expressed gratitude to the group’s clients and shareholders for their trust, and thanked regulatory authorities in Jordan, Cyprus, and Iraq for their ongoing support, as well as the Board of Directors, executive management, and all employees for their efforts in reaching this esteemed position.
The Jordan Kuwait Bank Group announced its financial results for the nine months ending September 30, 2024, reporting a net profit of approximately 148.4 million dinars, up from 72.1 million dinars in the same period last year.
Commenting on the results, the bank’s Chairperson, Sheikha Dana Al-Sabah, stated: “Despite the political events impacting the world, particularly in neighbouring countries, and their economic repercussions, the group continues to achieve steady progress, reflected in our record profits and strong financial position, supported by a reassuring capital adequacy ratio.”
The bank’s CEO, Mr. Haitham Al-Batihi, expressed pride in the results, stating: “We are reaping the benefits of our strategic plan set over past years, which centres on delivering the best banking and financial solutions for our clients both locally and regionally through our presence in Jordan, Cyprus, and Iraq. We are confident in the group’s ability to sustain growth.”
Al-Batihi highlighted the key financial indicators, noting a 105.8% increase in net profit to 148.4 million dinars compared to the previous year. Assets grew by 10.2%, reaching over 5.7 billion dinars, while equity increased by 16.5% to 847.9 million dinars. The return on equity surpassed 25%, with a capital adequacy ratio of 21.77%.
Sheikha Al-Sabah expressed gratitude to the group’s clients and shareholders for their trust, and thanked regulatory authorities in Jordan, Cyprus, and Iraq for their ongoing support, as well as the Board of Directors, executive management, and all employees for their efforts in reaching this esteemed position.
The Jordan Kuwait Bank Group announced its financial results for the nine months ending September 30, 2024, reporting a net profit of approximately 148.4 million dinars, up from 72.1 million dinars in the same period last year.
Commenting on the results, the bank’s Chairperson, Sheikha Dana Al-Sabah, stated: “Despite the political events impacting the world, particularly in neighbouring countries, and their economic repercussions, the group continues to achieve steady progress, reflected in our record profits and strong financial position, supported by a reassuring capital adequacy ratio.”
The bank’s CEO, Mr. Haitham Al-Batihi, expressed pride in the results, stating: “We are reaping the benefits of our strategic plan set over past years, which centres on delivering the best banking and financial solutions for our clients both locally and regionally through our presence in Jordan, Cyprus, and Iraq. We are confident in the group’s ability to sustain growth.”
Al-Batihi highlighted the key financial indicators, noting a 105.8% increase in net profit to 148.4 million dinars compared to the previous year. Assets grew by 10.2%, reaching over 5.7 billion dinars, while equity increased by 16.5% to 847.9 million dinars. The return on equity surpassed 25%, with a capital adequacy ratio of 21.77%.
Sheikha Al-Sabah expressed gratitude to the group’s clients and shareholders for their trust, and thanked regulatory authorities in Jordan, Cyprus, and Iraq for their ongoing support, as well as the Board of Directors, executive management, and all employees for their efforts in reaching this esteemed position.
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Jordan Kuwait Bank Group Reports Net Profit of 148.4 Million Dinars for First Nine Months of 2024
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