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Capital gains help double Jordan Ahli Bank's profits in 2014
February 12, 2015 / 6:03 PM / 3 years ago

Capital gains help double Jordan Ahli Bank's profits in 2014

AMMAN, Feb 12 (Reuters) - Jordan Ahli Bank boosted net profit by 113 percent to 34 million dinars ($48 million) in 2014 due to capital gains from divesting its Lebanese subsidiary to a Lebanese bank, bank officials said.

Net operating income, including interest and commissions, rose 7 percent to 102.4 million dinars in 2014 from 95.7 million the previous year, a bank official said, adding the results still need final Central Bank approval.

Bankers said Lebanon’s Fransabank may have paid as much as $100 million.

Jordan Ahli Bank, whose income comes from retail, corporate and investment banking, also has a presence in Palestinian territories and Cyprus. Its major shareholders are the Jordanian Muasher family. ($1 = 0.709 dinar) (Reporting by Suleiman Al-Khalidi; Editing by Ruth Pitchford)

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