Latest news with #AbdelElahAl-Khatib
Jordan News
3 days ago
- Business
- Jordan News
In the Presence of Princess Ghida Talal, Housing Bank Renews Strategic Partnership with King Hussein Cancer Foundation
In the Presence of Princess Ghida Talal, Housing Bank Renews Strategic Partnership with King Hussein Cancer Foundation In the presence of HRH Princess Ghida Talal, Chairperson of the Board of Trustees of the King Hussein Cancer Foundation and Center, and Abdel Elah Al-Khatib, Chairman of the Board of Housing Bank, the bank has officially renewed its strategic partnership agreement with the King Hussein Cancer Foundation (KHCF) for the years 2025 and 2026. اضافة اعلان The agreement was signed by Ammar Al-Safadi, CEO of Housing Bank, and Nisreen Qatamish, Director General of KHCF. This renewed partnership continues a longstanding collaboration aligned with the bank's corporate social responsibility program, 'Imkan Al-Iskan', which focuses on the key pillars of health, education, and social empowerment. Commenting on the renewal, Al-Safadi stated: 'Our continued support for the King Hussein Cancer Foundation over the years reflects our deep belief in the importance of sustainable partnerships and collective solidarity to strengthen our impact in tackling health challenges, especially cancer. We view this as a shared responsibility to provide hope and make a tangible difference in the lives of patients and their families.' Qatamish expressed her gratitude to Housing Bank for its ongoing commitment, adding: 'This generous support will help us further our humanitarian mission to provide comprehensive care to as many cancer patients as possible, in accordance with the highest international standards.' Under the renewed agreement, Housing Bank will continue supporting KHCF's annual 'Haflet Al-Khair' charity gala, which raises funds for cancer care. Additionally, the bank will support: The university scholarship program for students battling cancer The Sewar Al-Hussein volunteer program Comprehensive care initiatives for patients facing economic and treatment-related hardships This collaboration reaffirms both institutions' shared commitment to building a more compassionate and resilient society.
Jordan News
28-04-2025
- Business
- Jordan News
Housing Bank Net Profits Increased to reach JD40.0 Million during the First Quarter of 2025 - Jordan News
Housing Bank Net Profits Increased to reach JD40.0 Million during the First Quarter of 2025 The Housing Bank for Trade and Finance (HBTF) Group announced the financial results for the first quarter of 2025, reporting a net profit of JD 40.0 million after provisions and taxes, with an increase of 4.1% compared to the same period last year. اضافة اعلان Commenting on these financial results, Abdel Elah Al-Khatib, Chairman of the Board of Directors, indicated that the strong financial performance emphasizes the Bank's solid financial position. He noted that the results reflect the success of the Group's strategic direction, comprehensive vision, and integrated capabilities. Al-Khatib further added that these results affirm the Bank's efficiency and prudent resource management, ensuring optimal returns for our shareholders. Meanwhile, Ammar Al-Safadi, Chief Executive Officer of HBTF Group, uncovered the key financial indicators for the first quarter, which reflect the strength and efficiency of the Bank's operational sectors and the continued achievement of its targeted growth. Al-Safadi elaborated that this positive performance is a continuation of the Bank's success story and reflects the soundness of its financial position. It showcases the Group's ability to remain resilient and flexible amid evolving economic conditions and challenges. Al-Safadi further noted that the Bank's performance is in line with its strategic plans, reinforcing its leading position in the banking sector and affirming its commitment to sustainable growth. He added that the return to shareholders' equity increased to 11.6% in Q1-2025, while the return on average assets increased to 1.7%, highlighting the Bank's operational efficiency and effective management of assets and liabilities. The Group recorded robust growth in net credit facilities, which increased by 5.2% since the beginning of the year to reach JD4.8 billion by the end of Q1. This growth positively contributed to the Bank's total income, operating profit, and market share. In terms of funding, customer deposits grew in Q1 to reach JD6.0 billion. The Bank also maintained a solid capital base, with total equity reaching JD1.4 billion and a capital adequacy ratio stood at 18.3%—well above the minimum regulatory requirements set by the Central Bank of Jordan and the Basel Committee. Looking ahead, Al-Safadi reaffirmed Housing Bank's commitment to delivering top-tier banking services, introducing advanced, user-friendly, and secure products and integrated banking solutions within a modern environment—a reflection of Housing Bank's legacy and leadership in the Jordanian banking market.
Jordan News
27-04-2025
- Business
- Jordan News
Housing Bank Holds its 52nd Annual General Assembly Approval of 2024 Financial Statements and 30% Cash Dividends Distribution JOD 150.3 Million Net Profits for 2024 and Major Achievements across Key P
Housing Bank Holds its 52nd Annual General Assembly Approval of 2024 The Housing Bank for Trade and Finance (HBTF) Group held its 52nd Annual General Assembly on 24 April 2025, during which the 2024 financial statements, the Board of Directors' report, and the auditor's report, were approved, along with the business plan for 2025. اضافة اعلان The meeting also endorsed the Board of Directors' recommendation to distribute cash dividends at a rate of 30% of the nominal share value to shareholders for the year 2024. Moreover, PricewaterhouseCoopers (PwC) was appointed as the external auditor for 2025. The meeting, led by Mr. Abdel Elah Al-Khatib, Chairman of the Board of Directors, was held online and attended by shareholders representing 95.071% of the capital. Also present were representatives from the Companies Control Department (CCD), the Central Bank of Jordan (CBJ), the Palestine Monetary Authority (PMA), and PwC, the external auditor for 2024. Mr. Al-Khatib noted that 2024 witnessed significant geopolitical developments that had a profound impact on the global economy, particularly in the region, placing extraordinary pressure on local and regional markets. Despite these challenging circumstances, Housing Bank was able to maintain its performance and enhance its results through the strategic direction provided by the Board of Directors and abided by the Executive Management. The Group's financial results for 2024 reflected the strength of its business model and its ability to achieve sustainable growth while maintaining asset quality and reinforcing provisions, supported by prudent risk management and proactive planning for potential challenges. These efforts were reflected in the continued upward trajectory of the Bank's key financial indicators. The Group recorded a net profit after provisions and taxes, amounting to JOD 150.3 million, compared to JOD 140.8 million in 2023, reflecting a growth rate of 6.7%. Total assets increased by 6.3%, reaching JOD 9.2 billion by the end of 2024, compared to JOD 8.7 billion at the end of 2023, with the Bank's market share of total assets in the Jordanian banking sector reaching 11.9%. Customer deposits rose to JOD 6 billion by the end of 2024, compared to JOD 5.7 billion in 2023, representing 10.6% of total customer deposits in the Jordanian banking sector. Total direct credit facilities also increased in 2024 to reach JOD 5.1 billion, giving Housing Bank a market share of 10.9% of total credit facilities in the sector. The Group also maintained a solid capital base, with total shareholders' equity reaching JOD 1.4 billion at the end of 2024, marking a 5.7% increase. The capital adequacy ratio stood at 18.6%, and the liquidity ratio at 128.2%, both exceeding the minimum regulatory requirements of the CBJ and the Basel Committee, highlighting the Bank's strong and stable financial position. Highlighting Housing Bank's activities in 2024, Mr. Al-Khatib noted several strategic achievements aligned with the Bank's long-term goals. These included the introduction of a range of innovative banking products, initiatives, and digital solutions aimed at enriching the customer experience with greater convenience and security. The Bank also launched a comprehensive renovation plan for its branches, adopting modern interiors and advanced digital features, underscoring its commitment to customer service excellence and its 50-year legacy. These efforts are part of the HBTF's broader vision to remain the bank of choice for its customers. Housing Bank also continued to implement its digital transformation strategy, ensuring that its systems and applications remain aligned with the latest global technologies. This contributed to improved operational efficiency, an expanded customer base, and a strengthened position as a leading financial institution committed to innovation and excellence. On the corporate banking front, 2024 saw the signing of several agreements aimed at supporting key infrastructure and development projects in Jordan, with announcements made in early 2025. Among the most prominent was an agreement with Tanmia for Natural Gas to help finance strategic energy infrastructure. This reflects the Group's active role in promoting sustainable economic growth through support for high-impact investment initiatives. In terms of social responsibility, Mr. Al-Khatib announced the launch of the Imkan by Iskan program in 2024, an extension of the Bank's longstanding commitment to community development. This program consolidates the Bank's social initiatives under four key themes: social empowerment, health, education, and the environment. Implemented with active involvement from bank employees, the program reinforces the institution's culture of giving and its integral role in Jordanian society. Furthermore, Mr. Al-Khatib stated that the Bank's budget and business plan for 2025 were approved by the Board of Directors, based on a set of strategic assumptions and forecasts aimed at reinforcing HBTF's strong position in the banking sector. The plan focuses on sustaining profitable growth, expanding market share, advancing sustainability initiatives, and strengthening partnerships with international financial institutions to support green financing. As part of its forward-looking approach, the Bank will continue to develop its strategy for managing environmental, social, and governance (ESG) risks in line with the best global practices and trends, as well as the guidelines issued by the CBJ. Emphasis will also be placed on accelerating digital transformation, adopting the latest technological advancements, and introducing new electronic and digital solutions to ensure continued value creation for stakeholders, including customers, shareholders, and the communities the Bank serves. These efforts reaffirm the Housing Bank's ongoing commitment to delivering best-in-class services, safeguarding the interests of its shareholders and depositors, and contributing to the national economy under the leadership of His Majesty King Abdullah II Ibn Al Hussein. During the meeting, a new Board of Directors was elected for the 2025–2029 term, in accordance with applicable laws and regulations. Mr. Al-Khatib extended his gratitude to the members of the Board for their valuable contributions and expressed his best wishes for the success of the newly elected members in continuing the Housing Bank's journey of excellence and further strengthening its leadership position. He also expressed his sincere appreciation to the CBJ, the CCD, and the Jordan Securities Commission (JSC) for their support of the Jordanian banking sector and their vital role in promoting economic growth through sound regulatory frameworks and effective incentives. Mr. Al-Khatib thanked the Bank's shareholders for their continued support and expressed deep appreciation to depositors and customers for their enduring trust that drives the Bank's pursuit of excellence. He also commended the Executive Management team for their dedication and tireless efforts in serving the Housing Bank's mission, affirming its ongoing commitment to supporting Jordan's development and economic development under the leadership of His Majesty King Abdullah II Ibn Al Hussein, may Allah protect him.
