Capital Bank’s profits hit JD80mln by the third quarter of 2022, a 52% increase & More News

thumbnail photo 2022 10 29 13 06 16 jpg


Amman, Jordan: Capital Bank Group announced JD80 million in net profits at the end of September 2022, compared with JD52.7 million during the same time last year, an increase of 52%, reflecting the confidence of the bank’s customers, partners and depositors.

Capital Bank Group’s assets saw a remarkable 54% growth during the same period, equivalent to JD2.3 billion, of which JD1.6 billion were the result of Société Générale Bank – Jordan (SGBJ) acquisition, thereby reaching approximately JD6.7 billion, compared with JD4.3 billion at the end of 2021. Net credit facilities increased to JD3.3 billion at the end of September, compared with JD2.1 billion at the end of 2021, an increase of 56%. Client deposits also registered an increase at the end of September, by 67% to reach JD4.6 billion, compared to JD2.8 billion at the end of 2021. Preliminary results showed an increase of 63% in net shareholders’ equity to reach JD638 million, compared to JD392 million by the end of 2021.

Football Highlights

The Chairman of Capital Bank Group Bassem Khalil Al-Salem expressed his content with the group’s outstanding third quarter results, adding that the group has recently put into motion a number of actions and measures that strengthened its local and regional position, directly in line with its expansion strategy. This includes solidifying the Group’s capital through the issuance of Tier 1 perpetual bonds valued at $100 million earlier this year, which were listed at NASDAQ Dubai. Furthermore, the group increased its capital through the issuance of 63 million shares in favor of the Saudi Public Investments Fund (PIF), one of the largest funds in the world, with a 23.97% share, the equivalent of JD131.2 million, and appointing two members in the Board of Directors.

Al-Salem went on to say that the group now actively offers banking and financial services in the Saudi Arabia market, which is one of the world’s strongest economies, with the opening of the National Bank of Iraq’s first branch in Riyadh, a move that will support and strengthen trade finance volumes between Saudi Arabia, Iraq and Jordan.

According to Al-Salem, the group has also finalized the migration of SGBJ’s banking operations and transferred their leasing operations to Capital Bank under the new name – Capital Leasing, while merging the Société Générale-Jordan Financial Brokerage Company into Capital Investments, the investment arm of the Capital Bank Group.

Capital Bank Group CEO Dawod Al Ghoul said that the financial results achieved at the end of the third quarter of 2022 are a clear reflection of the group’s ambitious strategy, adding that the net operating income increased by 37% equivalent to JD20 million compared with the same period of 2021, which had a positive effect on the return on shareholders’ equity, reaching 19.4% excluding non-recurring items.

National Bank of Iraq financial results indicated a growth in net income after tax which reached JD11.1 million by the end of September, compared to JD8.6 million for the same period of 2021, a 29% increase.

Capital Investments registered net profits of JD4 million by the end of the third quarter, a growth of 46.5%, supported by the increase in assets under management, which totaled $ 543 million.

Capital Bank continues to implement its digital transformation strategy for both its corporate and individual customers through the most innovative solutions in line with international best practices in the banking industry. At the beginning of 2022, Capital Bank launched Blink, the first local digital bank to serve its customers through advanced banking services that include opening new accounts and performing banking operations with greater efficiency and ease. Capital Bank also redesigned its banking app with new features, in addition to launching “Capital Bank Business Online” platform, exclusively tailored for corporate clients, offering innovative solutions through an advanced digital platform that employs cutting-edge technologies.


Capital Bank’s profits hit JD80mln by the third quarter of 2022, a 52% increase

I have made it my goal to provide all of your most recent news today 2022 with the use of this website, and I think that you are going to like all of this news a great deal since all of the news that we always deliver in this news is always present. It is currently a hot issue, regardless of what the most recent news may have been.

it was always our effort to reach you so that you keep getting the latest news and that you always keep getting the information of news through us for free and also tell you, people. this includes but is not limited to Electricity News, Degree News, Donate News, Bitcoin News, Trading News, Real Estate News, Gaming News, Trending News, Digital Marketing, Telecom News, Beauty News, Banking News, Travel News, Health News, Cryptocurrency News, Claim News. it was always our effort to reach you that you keep getting Please include any additional information that is relevant to the many different forms of news that will be

Capital Bank’s profits hit JD80mln by the third quarter of 2022, a 52% increase

You will enjoy this news that I have compiled and distributed to you very much, and in it, we will continue to bring topics for you people on a regular basis, so that you can continue to obtain news information on topics that are currently popular and it is our objective to be able to provide you with this information.

any and all news without going through us first, allowing us to provide you with the most up-to-date and accurate information without charging you a fee. This will allow you to go further by acquiring the details of the news in conjunction with you. After some time has passed, we shall proceed.

to provide information on today’s world news update types of the latest news through posts on our website so that you always keep moving forward in that news and whatever kind of information will be there, it will definitely be conveyed to you people. This is so that you can always keep moving forward in that news.

Capital Bank’s profits hit JD80mln by the third quarter of 2022, a 52% increase

All of these news items that I have presented to you are or will be the most unique and best news that you people are not going to be able to get anywhere else. In addition, I have made all of this information, including Trending News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, and World News, available to each and every one of you so that you are always connected with the news, remain ahead of the curve in the situation, and continue to get today’s news Always go in a direction that is two steps ahead.

Read Entire Article🡽