JKB’s net profits up 36 percent in 2003
Jordan Kuwait Bank (JKB) has posted a group profit, after tax and provisions, of $19.4 million for 2003, an increase of 36.2 percent over the previous year, stated a press release.
Total balance sheet rose from $881.7 million to $1.01 billion realizing a growth by 14.8 percent. Customer’s deposits including cash margin reached $728.5 million and credit facilities-net recorded a growth of 20.3 percent to reach $448.8 million.
According to Chairman and CEO of JKB Abdel Karim Kabariti, the Board of Directors will propose to the General Assembly of Shareholders, a cash dividend of five million Jordanian dinars (seven million dollars) and the capitalization of JD 6.25 million, raising the bank's paid-up capital to JD 31.25 million. With this proposal, the total dividends distributed throughout the past seven years, will amount to JD 30 million. — (menareport.com)
© 2004 Mena Report (www.menareport.com)