Cairo-Amman Bank’s first quarter net profits rose by 35.6 percent to 7 million dinars ($9.8 million) mainly boosted by strong retail business and prime corporate lending, its chairman said on Monday.
"We are widening our customer base through diverse banking products in retail and lending to prime corporate customers with high financial solvency that ensures the minimum of banking risk," the bank’s chairman Khaled Masri said in a statement.
The bank also saw a 3 percent rise in deposits at the end of March 2010 to 1.298 billion dinars ($1.83 billion) compared to the start of the year. Gross income rose 29.7 percent to 25.5 million dinars compared to the same period in 2009.
Cairo-Amman Bank, which saw a 25.9 percent rise in net profits last year, has total assets of 1.747 billion dinars.
It is one of Jordan’s six largest banks by assets and the third largest bank in the Palestinian territories. It has over 80 branches in Jordan and the West Bank.
