UPDATE 1-Jordan's Housing Bank reports 2013 profit up 2.3 pct

Sun Feb 2, 2014 9:32am EST

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AMMAN Feb 2 (Reuters) - Jordan's Housing Bank for Trade and Finance on Sunday reported that 2013 net profit rose 2.3 percent to $150.8 million, with continued growth in operating revenues in a highly competitive market.

The country's second-largest lender said that total assets reached $10.2 billion at the end of 2013, up 2 percent from the same time a year earlier.

Net operating revenues rose 9 percent to $503.5 million, while the bank's credit portfolio stood at $4.2 billion at end of December 2013, a 10.5 percent rise year on year.

The bank's total capital adequacy ratio reached 18.8 percent at the end of December, well above the regulatory standard of 12 percent.

Housing Bank's main shareholders are Qatar National Bank , with a more than 35 percent holding, followed by Libya's Foreign Bank with 16.2 percent and Kuwait's Real Estate Investment Consortium with 18.6 percent.

Jordan's state pension fund also holds a 15 percent stake. Gulf Arab investors along with Jordanian businessmen own the remaining shares of the bank, which has the largest branch network in the country. (Reporting by Suleiman Al-Khalidi; Editing by David Goodman)

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