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Islamic Finance Briefing - Categorized | Banking, Performance more

Jordan Islamic Bank Q3 profit plunges 76 pct

Posted on 27 October 2009

From Maktoob.com: Jordan Islamic Bank, or JIB, a unit of Bahrain’s Albaraka Banking Group, Monday said its net profit plummeted 76% to 2.5 million Jordanian dinars ($3.53 million) in the third quarter of 2009, from JOD10.3 million a year earlier.

The sharp decline in earnings was due to a plunge in revenues of financial assets held to maturity which nose-dived 98% to about JOD32,000, from JOD10.4 million in the third quarter of 2008, according to the bank’s income statement published on the Amman bourse Web site…………………….Full Article: Source

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