During the first half of the year, Capital Bank achieved a total growth of 20% in net operating income, as well as a growth rate of 19% in total assets with an increase of JD409 million that is attributed mainly to a growth in financing sources, particularly customer deposits, which increased by approximately JD194 million, or a rate of 15%. The bank’s loan portfolio also saw an increase of 16%, or JD167 million. The bank reinforced its equity to reach approximately JD357.6 million by the end of June, compared to JD347.5 million during the same period of 2019.

The bank’s net profits amounted to JD14 million, and total profits before taxes reached JD17.6, with results indicating a 15% decrease from the previous year due to its strategy of hedging against the crisis resulting from the COVID-19 pandemic.

According to Capital Bank Chairman of the Board of Directors Bassem Khalil Al-Salem, the bank has succeeded in mitigating the negative effects of the economic repercussions as a result of the coronavirus pandemic, adding that the banking sector as a whole was affected by the decrease in revenues from interest and commissions, as well as the reduction in interest rates and lower oil prices.

Al-Salem went on to praise the outstanding and decisive role played by the Central Bank of Jordan and the country’s banks in containing the economic repercussions of the pandemic, which lessened the expected decline in growth rates. He noted that Capital Bank was one of the first banks to support and contribute in the national loan guarantee program, which helped professionals, artisans and SMEs acquire financing at favorable terms.

Capital Bank CEO Dawod Al Ghoul said that the bank will continue to implement its medium- and long-term strategic plans with the multi-pronged aims of improving the quality of its credit portfolio, reinforcing and diversifying its sources of funds, and increasing its market share of deposits and facilities while maintaining its conservative risk policy. 

Recently, Capital Bank has been working to further develop and expand its internal systems, as well as updating its e-banking platforms in order to increase efficiency, reduce costs, and ensure around-the-clock availability, a strategy that benefited its customers, whether individual or institutional, particularly during the COVID-19 pandemic.