Jordan Islamic Bank posts first-quarter net profit of $14.7 million

AMMAN, April 28 Mon Apr 28, 2014 6:33am EDT

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AMMAN, April 28 (Reuters) - Jordan Islamic Bank,, a subsidiary of Bahrain-based Al Baraka Banking Corp, reported first-quarter net profit of 10.4 million dinars ($14.7 million) on Monday, the same level as the year-ago period.

The bank, the oldest of the four Islamic banks operating in Jordan and the largest in terms of assets, said the results reflected continued healthy growth in Islamic banking services.

Its assets had risen to 3.6 billion dinars by the end of March, compared with 3.5 billion at end of 2013, while customer deposits were up at 3.24 billion dinars against 3.19 billion dinars at the end of last year, it said in a statement.

($1 = 0.7081 Jordanian dinars) (Reporting by Suleiman Al-Khalidi; Editing by Pravin Char)