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MENAFN - Jordan Times - 27/04/2011

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(MENAFN - Jordan Times) Jordan Commercial Bank's general assembly on Tuesday endorsed a recommendation by the board of directors to raise the bank's capital by 3 percent or JD2.41 million to JD82.77 million by issuing bonus shares to its shareholders.

Also during this year, the bank will work to increase its capital to JD100 million through private subscription, Board Chairman Michel Sayegh said. Some of the bank creditors faced difficulty in 2010 to meet their payments, Sayegh said, noting that was normal due to cash flow variations during a period of an economic recession. In 2010, the bank's net profit totalled JD4.38 million compared to JD5.56 million in 2009.

 






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