2021 Bank of Jordan ‘s Half – Year Net Profit of JD 16.4 Million
Fakhoury: Growth in the Bank of Jordan’s semi-annual profits as a result of rationalizing expenses
The Bank of Jordan (BOJX ), which is listed on the Amman Stock Exchange, achieved a growth in its semi-annual profits for the first half of the year, by 156.78 percent, on an annual basis.
The bank’s financial results showed that it achieved semi-annual profits of JD 16.43 million ($23.17 million), compared to profits of 6.4 million ($9.02 million) in the first half of last year.
The financial statements indicated that the bank’s total expenses were rationalized by 17.66 percent during the first half of the year, to reach JD 45.88 million, compared to expenses of JD 55.71 million in the first half of 2020.
The Chairman of the Bank of Jordan, Shaker Fakhoury, stated that this expected improvement in the bank’s financial results opens hope for the expected recovery thanks to vaccinations in the second half of 2021. Taking into account that this expected improvement is subject to a large degree of uncertainty, in connection with the course of the pandemic, the effectiveness of policy support in restoring normal conditions depending on the availability of the vaccine, and the evolution of financial conditions.