(Adds details and background)
AMMAN, April 29 Jordan's Housing Bank for Trade
and Finance posted a 21-percent increase in
first-quarter net profit to $44 million buoyed by a rise in core
revenues from interest and commission, it said in a statement on
Assets stood at $10.6 billion at the end of March, up 3.2
percent from the end of last year. Income from interest and
commission rose 7.2 percent to $106.3 million compared to the
same period last year, it said.
Housing Bank for Trade and Finance is the country's
number-two lender. Its main shareholder is Qatar National Bank
, with a stake of over 35 percent.
"The results reflect the solidity of the bank's financial
position," said Chairman Michel Marto, adding that customer
deposits rose 3.4 percent to $7.5 bln compared to the end of
The bank's total capital adequacy ratio reached 18.5
percent at the end of March, well above the regulatory standard
of 12 percent.
The bank, which is one of the largest foreign banks
operating in Syria, said its operations in the country were
performing well despite the unrest. It gave no details.
(Reporting by Suleiman Al-Khalidi; editing by Jason Neely and