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Jordan News
28-04-2025
- Business
- Jordan News
Housing Bank Net Profits Increased to reach JD40.0 Million during the First Quarter of 2025 - Jordan News
Housing Bank Net Profits Increased to reach JD40.0 Million during the First Quarter of 2025 The Housing Bank for Trade and Finance (HBTF) Group announced the financial results for the first quarter of 2025, reporting a net profit of JD 40.0 million after provisions and taxes, with an increase of 4.1% compared to the same period last year. اضافة اعلان Commenting on these financial results, Abdel Elah Al-Khatib, Chairman of the Board of Directors, indicated that the strong financial performance emphasizes the Bank's solid financial position. He noted that the results reflect the success of the Group's strategic direction, comprehensive vision, and integrated capabilities. Al-Khatib further added that these results affirm the Bank's efficiency and prudent resource management, ensuring optimal returns for our shareholders. Meanwhile, Ammar Al-Safadi, Chief Executive Officer of HBTF Group, uncovered the key financial indicators for the first quarter, which reflect the strength and efficiency of the Bank's operational sectors and the continued achievement of its targeted growth. Al-Safadi elaborated that this positive performance is a continuation of the Bank's success story and reflects the soundness of its financial position. It showcases the Group's ability to remain resilient and flexible amid evolving economic conditions and challenges. Al-Safadi further noted that the Bank's performance is in line with its strategic plans, reinforcing its leading position in the banking sector and affirming its commitment to sustainable growth. He added that the return to shareholders' equity increased to 11.6% in Q1-2025, while the return on average assets increased to 1.7%, highlighting the Bank's operational efficiency and effective management of assets and liabilities. The Group recorded robust growth in net credit facilities, which increased by 5.2% since the beginning of the year to reach JD4.8 billion by the end of Q1. This growth positively contributed to the Bank's total income, operating profit, and market share. In terms of funding, customer deposits grew in Q1 to reach JD6.0 billion. The Bank also maintained a solid capital base, with total equity reaching JD1.4 billion and a capital adequacy ratio stood at 18.3%—well above the minimum regulatory requirements set by the Central Bank of Jordan and the Basel Committee. Looking ahead, Al-Safadi reaffirmed Housing Bank's commitment to delivering top-tier banking services, introducing advanced, user-friendly, and secure products and integrated banking solutions within a modern environment—a reflection of Housing Bank's legacy and leadership in the Jordanian banking market.
Jordan News
08-02-2025
- Business
- Jordan News
Jordan's chemical, cosmetics industries meet 79% of local needs-Stakeholder - Jordan News
Amman,- The Kingdom's chemical and cosmetics industries sector is a "major" driver of innovation and sustainability within the national economy, as a main priority and high-value industry in the Economic Modernization Vision (EMV). اضافة اعلان The sector covers 79% of the local market size, as many of its products achieved "full self-sufficiency" during Covid-19 pandemic crisis, especially detergents, sterilizers and disinfectants, while its products are sold in 112 markets globally. In a statement to "Petra" Saturday, the sector's representative in Jordan Chamber of Industry (JCI), Ahmed Al-Bas, said the chemical and cosmetics industry is a "major" pillar of Jordan's industries and a "main" supplier to meet the local market's needs. Al-Abas added that most products have become in direct contact with citizens' lives through end-use items, mainly detergents, sterilizers, disinfectants, cosmetics and others. The sector, he noted, plays an "important and strategic" role in the national economy and has "diverse and large" production capabilities to meet needs of the local market with the required quality and quantities and "significantly" doubling its export levels. Furthermore, he stated the sector has "always successfully" addressed the various crises that faced Jordan, which has the components to meet the Kingdom's needs for "strategic" goods of basic chemical materials to a "large" extent. The EMV aims to raise the added value of the sector's contribution to the gross domestic product by 7% annually, or about JD0.8 billion during the coming years, from JD0.6 billion in 2021 to about JD1.4 billion in 2033, he pointed out. Al-Abas indicated that the EMV also aims to enhance employment levels in the sector by creating more than 23,000 full-time job opportunities in the coming years and increasing its exports by 11.4% to reach JD5.4 billion in 2033. To achieve these goals, he remarked the EMV has launched several initiatives to advance the sector to "higher" levels, mainly establishing a chemical industries complex. Under the EMV, he noted a research, development and innovation center for the Kingdom's potash and phosphate value chain and commercial exploitation opportunities will be launched, while building a detailed strategy for manufacturing various potash and phosphate products.
