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JIB posts slight increase in Q1 net income

April 30, 2014 9:34 am

Jordan Islamic Bank (JIB), a subsidiary of Bahrain-based Al Baraka Banking Group, has reported a net profit of $14.71m for the first quarter of this year, compared with $14.68m during the same period in 2013, Gulf Daily News has reported. Clients’ deposits including restricted investments and Muqarada bonds reached $4.581bn, compared with about $4.5bn earlier. “The bank’s assets with managed accounts added to restricted investment accounts and Muqarada bonds reached about $5.079bn during the quarter of the current year compared with $4.968bn at the end of last year,” said JIB vice-chairman and general manager, Musa Abdelaziz Shihadeh.