Jordan word

Financial data of the 15 banks listed on the Amman Stock Exchange showed an increase in their net profits after taxes and provisions by 77% in the first half of this year, compared to the same period last year.

According to the data, the banks’ net profits amounted to 296.5 million dinars in the first half of this year, compared to 167.7 million dinars in the first half of last year, with an increase of 128.8 million dinars.

Net profit before income tax amounted to about 437.3 million dinars in the first half of this year, compared to 280.8 million dinars for the same period in 2020, an increase of 56% and a value of 156.4 million dinars.

The value of provisions for expected credit losses decreased by 23% in the first half of this year, as the value of provisions amounted to about 277.3 million dinars for the first six months of this year, while the value of these provisions was about 361.7 million dinars in the first half of 2020.

The total equity of the 15 banks recorded about 8.98 billion dinars as on June 30, 2021.

According to the data, provisions for credit losses are built in general, within a methodology compatible with international financial and accounting standards, specifically Standard No. 9, and in line with the instructions of the Central Bank of Jordan.