The group attributed, in a statement seen by the (Namazon site) today, that the annual profits decreased mainly due to the increase in provisions in the commercial banking company of the group.
Earnings per share during the past year amounted to 2.37 cents, compared to 3.22 cents in the same period in the previous year.
The value of total equity attributed to shareholders amounted to about $ 1 billion on December 31, 2019, compared to $ 1.06 billion on December 31, 2018, a decrease of 5.7%, This is due to the additional acquisition of an infrastructure project and treasury shares repurchase programs.
The value of total assets and funds under management increased from $ 8.5 billion in 2018 to $ 10 billion in 2019, a growth of 17.7%.
The net profit attributable to the shareholders of the group amounted to about $ 6.5 million during the last quarter of 2019, compared to a profit of $ 10.6 million for the same period in 2018, Down by 38.7%.
The value of revenue for the past year was 335.69 million dollars, compared to 286.17 million dollars in 2018, an increase of 17.3%, which reflects the continuous growth and progress achieved at the level of banking activity The group’s investment activities, increasing contributions from real estate activities and the strong performance of the group’s treasury activity.
In view of these good results, the Board of Directors has recommended the distribution of 5.12% ($ 50 million) cash dividends to shareholders for the year 2019, in accordance with the approval of the shareholders' general assembly. And the competent regulatory authorities.
