The Housing Bank for Trade and Finance
The Housing Bank for Trade and Finance (HBTF) has won the award as a result of successful expansion in Jordan and other Arab regions, impressive technological achievements and a reasonably strong performance last year.
Despite a tough 2002, the bank maintained net profit and ROE at about the same levels as in 2001. It made small gains in assets and Tier 1 capital amid the difficult conditions, while efficiency remained high (cost-to-income ratio of 55.38%).
“We are proud and honoured to be awarded as the Best Bank in Jordan for 2003. Successful financial institutions that are always in pace with the rapid developments and changes in the financial and banking industry and those that have a distinguished financial position deserve such awards,” said Zuhair Khouri, chairman and CEO of HBTF.
The bank made considerable progress in its three-year-old expansion strategy, becoming first and foremost a dominant force in Jordan’s retail market. Beyond operating 96 branches and 150 cash machines in the domestic market, it offers mobile and internet banking services.
Elsewhere in the Arab region, HBTF has opened branches in Palestine and Bahrain, and representative offices in Abu Dhabi, United Arab Emirates and Libya. It plans to enter the Syrian market this year.
