IIAB's profit reached 34.6 in 2016
Tue 18 April 2017

Islamic International Arab Bank’s general assembly of shareholders meeting held on 17/04/2017 presided over by Mr. "Mohammed Said" Mohammed Shahin Chairman of the Board of Directors and was attended by the board of directors' members,  Bank’s Sharia Board, the representative of the Companies Control Department, the external auditor, and the representative of the Central Bank of Jordan.

Mr. Shahin announced The financial results for the year ending 31/12/2016 showed an increase in the the Bank’s profit before taxes reached JD 34.6 million against JD 25 million; a 38% growth from 2015 (Net profit after taxes JD 23 million against JD 17 million in 201), and Total direct credit facilities amounted to JD 1.139 billion; achieving a growth of 19% from the previous year,  Customer deposits (included restricted deposits) recorded JD 1.874 billion against JD 1.745 billion; a growth rate 7%.

Mr. Shahin said that Total owners' equity reached JD 156 million in 2016 against JD 140 million in 2015; a 11% growth.

And he added that revenue and performance indicators increased compared to 2015, whereas ROA increased to 1.2% against 0.9% in 2015, ROE increased to 15% against 12% in 2015, and the capital adequacy ratio (CAR) reached 16.21% which exceeds the Central Bank's requirements, and general assembly of shareholders approved the balance sheet, the financial statements, and the Board of Directors’ report.