Jordan Kuwait Bank Group has reported its financial results for the nine months ending September 30, 2024, achieving net profits of approximately JOD 148.4 million (KD 63.9 million). This represents a substantial increase from JOD 72.1 million (KD 31.1 million) during the same period in the previous year.
Commenting on the results, Sheikha Dana Nasar Sabah Al Ahmad Al Sabah, Chairperson of the Board of Directors, stated, “Despite the political events that the world in general and neighbouring countries in particular are witnessing, and the economic repercussions of these events, the Group is proceeding steadily to achieve more accomplishments. These are reflected in the record profits and the solid financial position, supported by a reassuring capital adequacy ratio.”
Jordan Kuwait Bank CEO, Haethum Buttikhi, expressed his pride in the financial outcomes, remarking, “We are reaping the rewards of our strategic plan that was established over the past years. Its foundation is to provide the best banking and financial solutions to our customers locally and regionally through our presence in Jordan, Cyprus, and Iraq. We are fully confident in the Group’s ability to continue achieving sustainable growth.”
Buttikhi highlighted the key financial indicators and ratios: net profits surged by 105.8% over the same period last year to JOD 148.4 million (KD 63.9 million), assets grew by 10.2% to exceed JOD 5.7 billion (KD 2.4 billion), and equity grew by 16.5% to JOD 847.9 million (KD 365.4 million). The return on equity exceeded 25%, and the capital adequacy ratio reached 21.77%.
Sheikha Dana Al Sabah extended thanks to the Group’s clients and all shareholders for their trust, and to the regulatory authorities in Jordan, Cyprus, and Iraq for their continuous support. She also commended the members of the Board of Directors, the Executive Management, and all employees for their efforts that have elevated the Group to its prestigious position.
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