2004

2003

JD

JD

Interest income

14,934,792

13,850,802

Interest expense

(5,026,918)

(5,365,621)

Net interest income

9,907,874

8,485,181

Net commission

1,570,972

1,372,696

Net interest and commission income

11,478,846

9,857,877

Other income

Gain from financial assets and instruments

2,511,484

2,671,504

Other operating income

6,261,692

4,762,631

Total other income

8,773,176

7,434,135

NET OPERATING INCOME

20,252,022

17,292,012

EXPENSES

Employees’ costs

(4,984,187)

(4,600,041)

Other operating expenses

(3,167,709)

(2,773,853)

Depreciation and amortization

(967,213)

(905,042)

Provision for possible loan losses

(1,874,177)

(1,524,577)

Sundry provisions

(61,530)

-

Loss on decline in value of repossessed assets

(26,245)

(55,771)

Bad debts written off

(31,837)

-

TOTAL OPERATING EXPENSES

(11,112,898)

(9,859,284)

NET INCOME BEFORE INCOME TAX AND FEES

9,139,124

7,432,728

Income tax expense

(1,754,229)

(1,402,208)

Jordanian universities fees

(91,391)

(74,327)

Scientific research and vocational training fees

(91,391)

(74,327)

Educational, Vocational training and technical fund fees

(62,532)

(51,036)

Board of directors remuneration

(35,000)

(35,000)

NET INCOME

7,104,581

5,795,830

 Earnings per share

0.257

0.210