In 2006, it expanded its client base by 36.7%, increased assets by 17% to Jd2.3bn ($3.2bn) and boosted net profits by a significant 42% to Jd78.9m. And even with a massive 67.2% in Tier 1 capital to Jd236.6m, the bank was able to maintain high profitability with a 36.8% RoE.
In 2006, JKB’s consumer offerings grew dramatically with a rise of 36% in housing loans, 38% in personal loans, 34.4% in car financing loans and 47.6% in credit cards. The bank’s share of overall credit facilities is now more than 8%.
“We are proud to be the winners of The Banker’s Bank of the Year award for Jordan for the second consecutive year,” says chairman and CEO Abdel Karim Kabariti. “JKB’s achievements in 2006 reflect the strong performance of the Jordanian economy and its potential to grow and develop further.
“The bank’s visionary and prudent management, its staff capabilities and dedication enabled us to maintain a solid financial position with a remarkable growth momentum throughout the past 10 years. As we strive to keep up with the promising finance and investment opportunities in our country, and the growing business activity of our clients, we assure all JKB’s stakeholders of our continuous commitment to live up to their expectations.”
