(Amman, Jordan - March 2023): On Thursday, March 23, at 1:00 pm, the Bank of Jordan held an Ordinary General Assembly  meeting via visual and electronic communication, in accordance with the procedures for organizing the general assemblies of public shareholding companies issued by the Minister of Industry, Trade, and Supply on 9/04/2020, based on the provisions of Clause "2" of the second paragraph of Defense Order No. "5" of 2020, issued pursuant to the provisions of Defense Law No. "13" of 1992, and approved holding the bank's Ordinary General Assembly via visual and electronic means of communication.

 The Chairman of the Board of Directors, Shaker Tawfiq Fakhouri, chaired the meeting, as it was attended by Board members, the bank’s General Manager, and shareholders holding 75.92% of the bank’s capital. The Companies’ General Controller, a representative from the Central Bank of Jordan, a representative from the Palestinian Monetary Authority, and Deloitte & Touche’s auditors were also among the attendees.

 In the context of the discussion of the financial results and the future plan, Mr. Shaker Fakhouri stated that with a solid strategic vision, the Bank of Jordan was able to attain a successful and sustainable performance in 2022. This strategy consists of adopting plans based on digital transformation and ensuring the business models constantly evolve as per the best international practices. He added that the net profit attributable to shareholders after tax and provisions amounted to JOD40.1 million, with an 11.5% growth compared to the end of 2021. 

 The bank maintained a solid capital base, recording an 11.8% growth in shareholders’ equity amounting to JOD529.2 million, and the capital adequacy ratio reached 22.66%. The bank’s assets amounted to around JOD2.9 billion, achieving a growth of 5.3%. At amortized cost, the net credit facilities portfolio increased to about JOD1.5 billion, and customer deposits increased to approximately JOD2.02 billion, achieving a growth of 5.7% over 2021.

 Mr. Fakhouri stated that the Bank of Jordan Group would continue to achieve successes and milestones in 2023 by providing advanced banking solutions and services, aiding in the economic growth of the countries in which it operates, and continuing to achieve a balanced and sustainable performance in terms of financial results, considering the markets it serves. 

 He continued by stating that the group will also be tracking changes and developments in local, regional, and international markets and monitoring the implementation of the bank’s plans and strategies for growth and expansion in countries with remarkable economic growth. In addition, the Bank of Jordan Group will continue to develop business strategies and projects to identify targeted growth areas and opportunities and improve performance at all levels.

 Consequently, the bank’s General Assembly approved the report from the Board of Directors, 2022’s financial statements, and 2023 future plan. Furthermore, dividends amounting to JOD36 million at a rate of 18% of each share’s nominal value were approved to be distributed among shareholders. Mr. Fakhouri expressed his gratitude to the Board of Directors for their efforts and ongoing support that helped the Bank of Jordan succeed and achieve its goals. He also thanked shareholders and clients for their trust in the Bank of Jordan and employees for their efforts in providing the best service to clients. He was also grateful to various national institutions, notably the Central Bank of Jordan and the Ministry of Industry and Trade, for their role in supporting the economic sectors, rallying behind the leadership of His Majesty King Abdullah II Ibn Al Hussein, may God protect and preserve him.