Capital Bank Group announced its financial results for the first half of 2024, showcasing exceptional performance across all financial indicators and continuing its trend of growth and progress from previous years. The Financial data indicates a substantial 40% increase in the group's net profits, reaching JOD 70 million, up from JOD 50 million during the same period last year.

Bassem Khalil Al-Salem, Chairman of Capital Bank Group, stated, "Capital Bank Group continues to achieve strong and distinguished financial performance in the first half of this year, enhancing the strength of our financial group. This performance confirms the effectiveness of our robust strategy and plans, as well as the excellence of our team."

Al-Salem noted that the group’s total assets increased by 7.7% to JOD 8.2 billion by the end of the first half of this year. He highlighted that net credit facilities granted to customers by the end of June 2024 increased by 2.9% to JOD 3.5 billion, while customer deposits grew by about 6% to JOD 5.8 billion. This growth reflects the confidence of the group’s customers, the diversity of its services, and the increase in the volume of its financial activities. He attributed the growth during the first six months of this year to the continued focus on strengthening the core business, improving operational efficiency, and expanding the group’s product and service range to meet the evolving needs of its customers.

"The positive financial results achieved by Capital Bank Group at the end of June are a testament to the strength and stability of our strategy and enhance confidence in our ability to continue our leadership in the local and regional banking markets,” commented Tamer Ghazaleh, CEO of Capital Bank. “We continue to diversify income sources, enhance operational efficiency, and provide innovative financial solutions that meet diverse customer needs, demonstrating our firm commitment to providing an outstanding customer experience.”

Ghazaleh reported that the group’s total income by the end of the first half of this year increased by 38% to JOD 206 million, compared to JOD 150 million in the first half of 2023. He indicated that the group continues to allocate credit provisions in accordance with its prudent credit policy and as a hedge against economic variability and fluctuations, aligning with plans to achieve sustainable growth.

Furthermore, Ghazaleh noted that net interest income by the end of last June rose by 22.3% to JOD 104.6 million, up from JOD 85.6 million in the same period last year, and the return on assets improved to 1.8%, up from 1.5%.

Ghazaleh emphasized the group's ongoing investment in developing digital products and services to better meet evolving customer needs, adding, “We believe that our continued efforts with our competent team will contribute to achieving more growth and profitability in the long term. As one of the largest financial institutions in Jordan, our leadership position motivates us to strive for excellence and provide the best services to our customers. We are confident in our ability to secure further achievements in the

future, as evidenced by the recognition and awards from prestigious international bodies such as Euromoney International Magazine and International Business Magazine.”

Ayman Abu Dhaim, CEO of the National Bank of Iraq, announced that the bank achieved exceptional financial results in the first half of this year. He reported that total direct credit facilities increased to JOD 814 million by the end of June. Additionally total customer deposits reached JOD 1.86 billion by the end of the first half.

Abu Dhaim highlighted that the growth across various financial indicators contributed to a 26% increase in the bank's assets, which rose to approximately JOD 2.7 billion by the end of the first half of this year, compared to JOD 2.16 billion at the close of the previous year.

It should also be noted that Moody's credit rating agency upgraded Capital Bank's long-term rating from B1 to Ba3 and confirmed the basic credit assessment (BCA) and adjusted BCA. This rating underscores the financial strength and stability of Capital Bank, reinforcing its status as one of the largest and most reliable banks in Jordan and bolstering its leading position in the Jordanian banking market.