Housing Bank for Trade and
Finance (HBTF) Group announced the results of its consolidated financial statements
for the fiscal year, ending on December 31, 2024. The results revealed that the
Group’s net profits, after provisions and taxes, amounted to JD150.3 million, compared
to JD140.8 million in 2023, reflecting a growth of 6.7%.
اضافة اعلان
H.E. Abdel Elah Al-Khatib,
Chairman of the Board of Directors, expressed his satisfaction with the strong financial
results for 2024. These results demonstrate that the Group has continued to
achieve sustainable growth in profits, aligning with the Group's comprehensive
and flexible strategic approach in business and risk management.
Al-Khatib also highlighted his
pride in the Bank’s performance and ability to achieve sustainable growth
despite the challenges in the region. He expressed his confidence that the Bank
will continue to build on this success in the future.
In light of the results achieved
for the year 2024, the Board of Directors in its meeting held on 23/1/2025
approved the financial results of the year 2024, and recommended the
distribution of a cash dividend of 30% of the share nominal value for the year
2024. The financial results of the year 2024 and the dividend distribution
proposal are subject to the approval of the Central Bank of Jordan.
From his side, Ammar Al-Safadi,
CEO of Housing Bank Group, emphasized that the Group’s financial performance
for 2024 marked the highest in the Bank’s history. He credited the positive
results to the strong performance of the Bank’s core operational sectors, which
continued to deliver growth across various financial indicators.
Elaborating on his statement,
Al-Safadi stated that the strong financial results were driven by a combination
of factors, including sustainable investment resources, efficient operational
processes, and effective resource allocation within key sectors, in addition to
the credit portfolios that are characterized by quality and soundness.
Al-Safadi further highlighted
that this performance is an extension of the bank’s successful journey and its
robust financial position. He emphasized that the Group’s commitment to
offering innovative banking solutions and exceptional services in a flexible
and evolving operational environment was a key to achieving sustainable
profitability. The bank’s solid capital base, high liquidity ratios, and stable
customer deposits reflect its wise approach to managing both reserves and asset
quality, enabling it to navigate economic challenges with flexibility.
Al-Safadi also noted that the Group’s
continued success is a result of its commitment to prudent risk management.
The
Group has booked additional provisions for expected credit losses as
precautionary measures to address potential economic challenges.
For 2024, the return on the
assets and shareholders’ equity increased to reach 1.7% and 11.3% respectively,
which reflect the Bank’s operational efficiency and effective management of its
assets and liabilities, delivering strong returns for shareholders.
Al-Safadi commended the
performance of the Bank’s operational sectors, emphasizing their role in
building long-term value for shareholders and clients. He also highlighted the Bank’s
collaboration with European financing entities and sovereign funds to support
green financing. Additionally, the Bank has developed a strategy for managing
environmental, social, and governance (ESG) risks in alignment with global best
practices and the Central Bank of Jordan’s guidelines.
Al-Safadi added that the Bank Group
was able to increase its net credit facilities and customer deposits at the end
of 2024 to reach to JD4.5 billion and JD6.0 billion respectively. In addition,
the Bank maintained its strong capital base, as the total equity amounted to
JD1.4 billion, while the capital adequacy ratio reached 18.6% at the end of 2024,
which is well above the minimum regulatory requirements of the Central Bank of
Jordan and the Basel Committee.
Al-Safadi concluded by expressing
confidence in the Bank’s ability to continue its growth trajectory and remain
at the forefront of banking innovation. The Group is committed to providing
cutting-edge digital applications, in line with global banking practices, while
continuously adapting to the latest technological advancements in the industry.
