Capital Bank Group continued to achieve exceptional financial results by the end of the third quarter of 2023, with a 70% increase in the gross income of the group, reaching JOD 245 million at the end of the first nine months of the year, compared to JOD 144 million for the same period last year.

According to preliminary financial results, the group saw a growth in its regular net profit, reaching JOD 82 million by the end of September, with a 26% increase compared to the same period last year.

Bassem Khalil Al-Salem, the Chairman of Capital Bank Group, expressed his satisfaction with these remarkable financial results and his pride in the group's development, stating, "These results reflect the success of our ambitious, long-term strategy for growth, focusing on achievements and building on them while continuing to implement our hedging policies."

Al-Salem added, "Our strategic approach has solidified the group's position as one of the largest banks in the region. We are proud to maintain this approach despite economic challenges, supported by the hedging policies we follow." He pointed out that Capital Bank Group and all its subsidiaries, both in and outside Jordan, have been able to create added value for their customers and shareholders by continuing to achieve sustainable growth.

Al-Salem emphasized the group's commitment to providing excellent banking services, achieving strong profits for its shareholders, and maximizing its market value.

The Acting CEO of Capital Bank Group, Samer Al-Aloul, confirmed that the growth in various performance indicators during the third quarter of the current year was supported by the strong performance of various activities, sectors, and markets. Operating net income by the end of the third quarter of the current year increased by over 100% to reach JOD 153.6 million, compared to JOD 73.5 million in the same period last year.

Al-Aloul also highlighted an 8% increase in the group’s total assets by the end of September, reaching approximately JOD 7.5 billion, compared to the approximate JOD 7 billion in the same period in 2022. Customer deposits increased by 10%, reaching JOD 5.4 billion by the end of the third quarter of 2023, compared to JOD 4.9 billion at the end of 2022.

In Iraq, the National Bank of Iraq (NBI) is one of the leading banks operating in the banking market with approximately JOD 2 billion in total assets, supported by a 91% growth in customer deposits, reaching JOD 1.4 billion.

The CEO of NBI, Ayman Abu Dhaim, stated that the numbers achieved by the bank reflect the increasing trust of its customers and its good reputation. The net credit portfolio grew by about JOD 174 million, with the growth focused on the individual sector at 89%. The bank has also witnessed substantial growth in its customer base, which currently stands at approximately 200,000 customers, served by over 1,000 employees, 27 branches, and 200 ATMs. The bank has also localized the salaries of over 150,000 government employees.

Abu Dhaim stated that NBI plans to expand within the Iraqi market by opening additional branches next year. As for external expansion, the bank's branch in Riyadh, Saudi Arabia, began its operations at the beginning of this year and has succeeded in attaining a high percentage of the trade exchange volume between Iraq and Saudi Arabia.

Regarding the financial results of the subsidiaries of Capital Bank Group, the total assets in the asset management portfolio of Capital Investments, the investment arm of the group, increased to USD 740 million at the end of the first nine months of this year. Leasing and finance activities grew by 94%, driven by the diversification of the business of Capital Bank Group and its revenues in Jordan and Iraq, providing new value-added services to customers.