the market share of direct credit facilities of jordanian national commercial banks in 2012 &...
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This short study offers briefly information related to the market share of direct credit facilities of Jordanian national commercial banks in 2012 and 2013.TRANSCRIPT
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Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
2
Contents Introduction ................................................................................................................................ 4
Direct Credit Facilities ................................................................................................................ 5
Consolidated Jordanian Banking Sector .................................................................................... 6
The Market Share of Net Direct Credit Facilities ......................................................................... 7
Dictionary ..................................................................................................................................15
Banks’ Year of Establishment ...................................................................................................16
References ...............................................................................................................................17
About the Author .......................................................................................................................18
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
3
﴾ َقاُلوا ُسْبَحاَنَك ََل ِعْلَم َلَنا ِإَلا َما َعلاْمَتَنا ِإناَك َأْنَت اْلَعِليُم اْلَحِكيمُ ﴿ صدق هللا العظيم
23آية –سورة البقرة
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
4
Introduction
The aim of this study is to report the market share of direct credit facilities of Jordanian national
commercial banks1. Thus, it will firstly offer an explanation of the direct credit facilities.
Secondly, it will also explain how the Central Bank of Jordan (CBJ) categorizes the banks in
Jordan. Thirdly, it will investigate the market share of net direct credit facilities for each of the
banks included in this study.
Moreover, it should be noted that this study excludes Arab Banking Corporation (Jordan) as it
does not disclose in its 2013 annual report its direct credit facilities in Jordan. Likewise, this
study does not also include Jordan Ahli Bank, Jordan Commercial Bank and Société Générale
de Banque – Jordanie as they have not uploaded yet their 2013 annual report in their websites2
in which it should disclose their direct credit facilities.
However, this study will only explore the market share of direct credit facilities of 9 (nine)
national commercial banks that disclosed their direct credit facilities of their 2013 annual reports.
Additionally, the excluded banks of this study will be included as having 0% market share until
they publish their annual report in order to have a comprehensive market share study of direct
credit facilities in Jordan.
1 There are 13 (thirteen) national commercial banks according to CBJ.
2 Each bank’s website as well as CBJ can be found in “Reference” section (page ).
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
5
Direct Credit Facilities
Direct credit facilities are financial assets with fixed and
determined payments provided or granted by the Bank
and do not have any market value in active market and
measured at amortized cost.
Impairment of direct credit facilities is recognized in the
allowance for credit losses when collection of amounts
due to the banks are not probable and when events
occur after the initial recognition of the facility that have
an impact on the estimated future cash flows of the facilities that can be reliably estimated. The
impairment is recorded in the income statement.
Interest and commission arising on non-performing facilities is suspended when loans become
impaired according to the Central Bank of Jordan‘s regulations.
Loans and the related allowance for credit losses are written off when collection procedures
become ineffective. The excess in the allowance of possible loan losses, if any, is transferred to
the statement of income, and cash recoveries of loans that were previously written off are
credited to the income statement.
Figure 1: Map of Jordan & its Administrative Divisions
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
6
Consolidated Jordanian Banking Sector
The Central Bank of Jordan (CBJ) classifies the banks into two major categories, namely
national banks and branches of foreign banks. Each of these categories is further divided into
commercial banks and Islamic Banks. Moreover, there are 13 (thirteen) national commercial
banks, 3 (three) national Islamic banks, 8 (eight) branches of foreign commercial banks and 1
(one) branch of foreign Islamic bank as shown in the figure below.
Figure 2: Consolidated Jordanian Banking Sector
Consolidated Banking Sector
National Banks
Commercial Banks
Arab Bank Arab Banking Corporation
(Jordan)
Arab Jordan Investment Bank
Bank al Etihad
Bank of Jordan Cairo Amman
Bank
Capital Bank of Jordan
Housing Bank for Trade & Finance
InvestBank Jordan Ahli Bank
Jordan Commercial Bank
Jordan Kuwait Bank
Société Générale de Banque –
Jordanie
Islamic Banks
Islamic International
Arab Bank
Jordan Islamic Bank
Jordan Dubai Islamic Bank
Branches of Foreign Banks
Commercial Branches
Banque Audi BLOM Bank
Citi Bank Egyptian Arab
Land Bank
National Bank of Abu Dhabi
National Bank of Kuwait
Rafidain Bank Standard Chartered
Islamic Banks
Al Rajhi Bank
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
7
The Market Share of Net Direct Credit Facilities
It can be seen from the below pie charts and the bar chart (See Figure 3, 4 & 5) that the Arab
Bank Group has maintained its dominance of the net direct credit facilities for the second year in
a row in which it controls more than 55% of the market; lending (accumulative) more than JOD3
10.5 billion. In addition, the Arab Bank Group has increased its market share by 0.86% in 2013
as it controlled more than 54% of the market in 2012 in which it was reported that the Arab Bank
Group lent more than JOD 9.9 billion in 2012.
Furthermore, Bank al Etihad has made a significant increase of 0.74% in the Jordanian net
direct credit facilities’ market share through lending more than JOD 1 billion in 2013 in which it
has increased its market share from 4.59% in 2012 to 5.33% in 2013. In the same time, Bank of
Jordan has made a recognized market share increase of 0.36% in 2013; controlling 5.47% of
the market share as it used to control 5.10% of the market share in 2012. It is worth noting that
the Bank of Jordan’s net direct facilities has crossed JOD 1 billion in 2013.
Similarly, Capital Bank of Jordan has raised slightly its market share from 3.42% to 3.55% in
2013 that is 0.13% in which it has lent cumulatively more than JOD 676 million as of December
31, 2013. Moreover, Invest Bank has enjoyed a conservative raise its market share by 0.05% in
which it has increased to 2.26% lending more than JOD 430 million; comparing with its 2012
market share that was 2.22% in which lending more than JOD 404 million.
On the other hand, Jordan Kuwait Bank has lost 0.79% of net direct facilities market in 2013;
resulting in controlling 6.98% of the market in which it used to control 7.77% in 2013.
Furthermore, the Housing Bank for Trade & Finance has also lost a significant portion of the
market share in which its market share has been declined from 14.72% to 13.99%; losing
0.73%. Likewise, Cairo Amman Bank’s market share declined from 5.53% to 5.07% in 2013.
Consequently, it has resulted in losing 0.46% of the net direct facilities’ market. Lastly, Arab
Jordan Investment Bank has made a slight loss of the market share by losing 0.17% in 2013;
resulting in controlling only 1.98%.
It is worth noting that the total net direct credit facilities of the abovementioned banks were more
than JOD 19 billion in 2013. In other words, there was an increase of 4.40% as the
abovementioned banks’ total net direct credit facilities was more than JOD 18.2 billion in 2012.
In other words, the total net direct credit facilities were increased by more than JOD 800 million.
3 JOD means Jordanian Dinar.
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
8
Figure 3: Market Share of Net Direct Credit Facilities as of December 31, 2013
55%
0%
2%
5%
6%
5%
4%
2% 0%
0%
7%
0%
14%
Arab Bank Group
Arab Banking Corporation (Jordan)
Arab Jordan Investment Bank
Bank al Etihad
Bank of Jordan
Cairo Amman Bank
Capital Bank of Jordan
Invest Bank
Jordan Ahli Bank
Jordan Commercial Bank
Jordan Kuwait Bank
Société Générale de Banque – Jordanie
The Housing Bank for Trade & Finance
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
9
Figure 4: Market Share of Net Direct Credit Facilities as of December 31, 2012
54%
0%
2%
5%
5%
6%
3%
2% 0%
0%
8%
0%
15%
Arab Bank Group
Arab Banking Corporation (Jordan)
Arab Jordan Investment Bank
Bank al Etihad
Bank of Jordan
Cairo Amman Bank
Capital Bank of Jordan
Invest Bank
Jordan Ahli Bank
Jordan Commercial Bank
Jordan Kuwait Bank
Société Générale de Banque – Jordanie
The Housing Bank for Trade & Finance
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
10
Figure 5: Increase or Decrease of the Market Share of Net Direct Credit Facilities between 2012 & 2013
-1.00%
-0.80%
-0.60%
-0.40%
-0.20%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00% P
erc
en
tage
Bank
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
11
Table 1: Direct Credit Facilities of the National Commercial Banks as of December 31, 2013
December 31, 2013 (JOD)
Arab Bank Group Arab
Banking
Corporation
(Jordan)
Arab Jordan
Investment
Bank
Bank al
Etihad
Bank of
Jordan
Cairo Amman
Bank
Capital
Bank of
Jordan
Invest Bank Jordan
Ahli
Bank
Jordan
Commercial
Bank
Jordan
Kuwait Bank
Société
Générale
de
Banque –
Jordanie
The Housing
Bank for
Trade &
Finance
Total
Retail Banking 1,002,041,000 N/A 60,735,059 60,631,995 257,131,496 563,047,399 119,830,038 49,259,620 N/A N/A 67,471,847 N/A 529,080,291 2,709,228,745
Real Estate Loans 722,622,000 N/A 65,483,008 159,512,078 172,920,704 128,484,249 110,724,147 75,654,099 N/A N/A 176,037,893 N/A 762,092,840 2,373,531,018
Small & Medium Enterprises 846,683,000 N/A 34,204,663 40,962,354 125,405,210 49,523,963 39,141,446 34,372,728 N/A N/A 78,502,600 N/A 286,009,786 1,534,805,750
Large Companies 7,982,220,000 N/A 101,260,000 766,582,808 482,167,347 173,165,255 451,940,687 309,620,252 N/A N/A 906,234,208 N/A 1,042,824,843 12,216,015,400
Banks & Financial Institutions 194,610,000 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 194,610,000
Government & Public Sector 627,013,000 N/A 121,990,025 55,837,525 109,062,116 112,914,549 13,681,266 0 N/A N/A 164,651,790 N/A 357,220,533 1,562,370,804
Total 11,375,189,000 N/A 383,672,755 1,083,526,760 1,146,686,873 1,027,135,415 735,317,584 468,906,699 N/A N/A 1,392,898,338 N/A 2,977,228,293 20,590,561,717
Interest & Commission in
Suspense
215,961,000 N/A 834,965 15,503,598 13,502,398 11,387,288 23,731,813 29,841,894 N/A N/A 8,584,421 N/A 82,310,498 401,657,875
Provision for Impairment of
Direct Credit Facilities
619,972,000 N/A 5,522,939 53,199,022 92,837,291 50,960,953 35,219,449 8,181,992 N/A N/A 56,125,578 N/A 232,069,846 1,154,089,070
Total 835,933,000 N/A 6,357,904 68,702,620 106,339,689 62,348,241 58,951,262 38,023,886 N/A N/A 64,709,999 N/A 314,380,344 1,555,746,945
Net Direct Credit Facilities 10,539,256,000 N/A 377,314,851 1,014,824,140 1,040,347,184 964,787,174 676,366,322 430,882,813 N/A N/A 1,328,188,339 N/A 2,662,847,949 19,034,814,772
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
12
Table 2: Direct Credit Facilities of the National Commercial Banks as of December 31, 2012
December 31, 2012
(JOD)
Arab Bank
Group
Arab
Banking
Corporation
(Jordan)
Arab Jordan
Investment
Bank
Bank al
Etihad
Bank of
Jordan
Cairo Amman
Bank
Capital
Bank of
Jordan
Invest Bank Jordan
Ahli
Bank
Jordan
Commercial
Bank
Jordan
Kuwait Bank
Société
Générale
de
Banque –
Jordanie
The Housing
Bank for
Trade &
Finance
Total
Retail Banking 947,145,000 N/A 78,780,093 60,127,279 230,287,521 564,268,543 92,192,035 38,718,197 N/A N/A 58,491,192 N/A 521,624,123 2,591,633,983
Real Estate Loans 643,603,000 N/A 58,438,232 147,520,561 174,818,183 128,094,176 97,073,808 72,299,850 N/A N/A 167,413,652 N/A 663,785,699 2,153,047,161
Small & Medium
Enterprises
694,356,000 N/A 33,221,929 63,906,655 137,619,940 49,734,923 31,306,404 49,686,500 N/A N/A 64,306,449 N/A 283,840,326 1,407,979,126
Large Companies 7,535,486,000 N/A 129,044,260 597,789,433 401,263,334 183,949,711 438,388,003 285,293,727 N/A N/A 1,044,218,684 N/A 1,107,315,957 11,722,749,109
Banks & Financial
Institutions
309,074,000 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 309,074,000
Government & Public
Sector
706,089,000 N/A 118,554,590 42,884,010 84,103,745 138,057,561 14,645,961 0 N/A N/A 158,218,421 N/A 364,464,087 1,627,017,375
Total 10,835,753,000 N/A 418,039,104 912,227,938 1,028,092,723 1,064,104,914 673,606,211 445,998,274 N/A N/A 1,492,648,398 N/A 2,941,030,192 19,811,500,754
Interest & Commission
in Suspense
194,592,000 N/A 8,017,634 19,863,809 12,764,723 10,994,072 16,014,286 33,894,449 N/A N/A 11,140,622 N/A 67,430,092 374,711,687
Provision for
Impairment of Direct
Credit Facilities
703,564,000 N/A 18,087,743 55,835,959 84,700,678 45,774,043 34,281,512 7,792,557 N/A N/A 65,248,254 N/A 189,717,804 1,205,002,550
Total 898,156,000 N/A 26,105,377 75,699,768 97,465,401 56,768,115 50,295,798 41,687,006 N/A N/A 76,388,876 N/A 257,147,896 1,579,714,237
Net Direct Credit
Facilities
9,937,597,000 N/A 391,933,727 836,528,170 930,627,322 1,007,336,799 623,310,413 404,311,268 N/A N/A 1,416,259,522 N/A 2,683,882,296 18,231,786,517
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
13
Table 3: Changes in Direct Credit Facilities between 2012 & 2013
(JOD) Arab Bank
Group
Arab
Banking
Corporation
(Jordan)
Arab Jordan
Investment
Bank
Bank al
Etihad
Bank of
Jordan
Cairo
Amman Bank
Capital
Bank of
Jordan
Invest Bank Jordan
Ahli
Bank
Jordan
Commercial
Bank
Jordan Kuwait
Bank
Société
Générale
de
Banque –
Jordanie
The Housing
Bank for
Trade &
Finance
Total
Retail Banking 54,896,000 N/A (18,045,034) 504,716 26,843,975 (1,221,144) 27,638,003 10,541,423 N/A N/A 8,980,655 N/A 7,456,168 117,594,762
Real Estate Loans 79,019,000 N/A 7,044,776 11,991,517 (1,897,479) 390,073 13,650,339 3,354,249 N/A N/A 8,624,241 N/A 98,307,141 220,483,857
Small & Medium Companies 152,327,000 N/A 982,734 (22,944,301) (12,214,730) (210,960) 7,835,042 (15,313,772) N/A N/A 14,196,151 N/A 2,169,460 126,826,624
Large Companies 446,734,000 N/A (27,784,260) 168,793,375 80,904,013 (10,784,456) 13,552,684 24,326,525 N/A N/A (137,984,476) N/A (64,491,114) 493,266,291
Banks & Financial Institutions (114,464,000) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A (114,464,000)
Government & Public Sector (79,076,000) N/A 3,435,435 12,953,515 24,958,371 (25,143,012) (964,695) 0 N/A N/A 6,433,369 N/A (7,243,554) (64,646,571)
Total 539,436,000 N/A (34,366,349) 171,298,822 118,594,150 (36,969,499) 61,711,373 22,908,425 N/A N/A (99,750,060) N/A 36,198,101 779,060,963
Interest & Commission in
Suspense
21,369,000 N/A (7,182,669) (4,360,211) 737,675 393,216 7,717,527 (4,052,555) N/A N/A (2,556,201) N/A 14,880,406 26,946,188
Provision for Impairment of Direct
Credit Facilities
(83,592,000) N/A (12,564,804) (2,636,937) 8,136,613 5,186,910 937,937 389,435 N/A N/A (9,122,676) N/A 42,352,042 (50,913,480)
Total (62,223,000) N/A (19,747,473) (6,997,148) 8,874,288 5,580,126 8,655,464 (3,663,120) N/A N/A (11,678,877) N/A 57,232,448 (23,967,292)
Net Direct Credit Facilities 601,659,000 N/A (14,618,876) 178,295,970 109,719,862 (42,549,625) 53,055,909 26,571,545 N/A N/A (88,071,183) N/A (21,034,347) 803,028,255
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
14
Table 4: Changes in Direct Credit Facilities between 2012 & 2013
(%) Arab
Bank
Group
Arab
Banking
Corporation
(Jordan)
Arab
Jordan
Investment
Bank
Bank al
Etihad
Bank
of
Jordan
Cairo
Amman
Bank
Capital
Bank of
Jordan
Invest
Bank
Jordan
Ahli
Bank
Jordan
Commercial
Bank
Jordan
Kuwait
Bank
Société
Générale de
Banque –
Jordanie
The
Housing
Bank for
Trade &
Finance
Total
Retail Banking 5.80% N/A -22.91% 0.84% 11.66% -0.22% 29.98% 27.23% N/A N/A 15.35% N/A 1.43% 4.54%
Real Estate Loans 12.28% N/A 12.06% 8.13% -1.09% 0.30% 14.06% 4.64% N/A N/A 5.15% N/A 14.81% 10.24%
Small & Medium Companies 21.94% N/A 2.96% -35.90% -8.88% -0.42% 25.03% -30.82% N/A N/A 22.08% N/A 0.76% 9.01%
Large Companies 5.93% N/A -21.53% 28.24% 20.16% -5.86% 3.09% 8.53% N/A N/A -13.21% N/A -5.82% 4.21%
Banks & Financial Institutions -37.03% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A -37.03%
Government & Public Sector -11.20% N/A 2.90% 30.21% 29.68% -18.21% -6.59% 0% N/A N/A 4.07% N/A -1.99% -3.97%
Total 4.98% N/A -8.22% 18.78% 11.54% -3.47% 9.16% 5.14% N/A N/A -6.68% N/A 1.23% 3.93%
Interest & Commission in Suspense 10.98% N/A -89.59% -21.95% 5.78% 3.58% 48.19% -11.96% N/A N/A -22.94% N/A 22.07% 7.19%
Provision for Impairment of Direct Credit Facilities -11.88% N/A -69.47% -4.72% 9.61% 11.33% 2.74% 5.00% N/A N/A -13.98% N/A 22.32% -4.23%
Total -6.93% N/A -75.65% -9.24% 9.11% 9.83% 17.21% -8.79% N/A N/A -15.29% N/A 22.26% -1.52%
Net Direct Credit Facilities 6.05% N/A -3.73% 21.31% 11.79% -4.22% 8.51% 6.57% N/A N/A -6.22% N/A -0.78% 4.40%
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
15
Dictionary
English العربية
Amortized cost التكلفة المطفأة
Banks & Financial Institutions المصارف والمؤسسات المالية
Credit Cards بطاقات ائتمان
Direct Credit Facilities تسهيالت ائتمانية مباشرة
Discounted Bills كمبياالت
Government & Public Sector الحكومة والقطاع العام
Interest & Commission in Suspense فوائد وعموالت معلقة
Large Companies الشركات الكبرى
Loans & Advances قروض وسلف
Net Direct Credit Facilities صافي التسهيالت االئتمانية المباشرة
Overdraft حسابات جارية مدينة
Provision for Impairment - Direct Credit Facilities مخصص تدني تسهيالت ائتمانية مباشرة
Real Estate Loans القروض العقارية
Retail Banking (التجزئة)ألفراد ل ةيفرصملا تامدخلا
Small & Medium Companies منشآت صغيرة ومتوسطة
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
16
Banks’ Year of Establishment
Number Bank Reuters Code Year of Establishment
1 Arab Bank Group ARBK 1930
2 Arab Banking Corporation (Jordan) ABCO 1990
3 Arab Jordan Investment Bank AJIB 1978
4 Bank al Etihad USBI 1978
5 Bank of Jordan BOJX 1960
6 Cairo Amman Bank CABK 1960
7 Capital Bank of Jordan EXFB 1995
8 Invest Bank INVB 1982
9 Jordan Ahli Bank AHLI 1955
10 Jordan Commercial Bank JCBK 1977
11 Jordan Kuwait Bank JOKB 1976
12 Société Générale de Banque – Jordanie SGBJ 1965
13 The Housing Bank for Trade & Finance THBK 1973
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
17
References [Arab Bank Plc] http://www.arabbank.com.jo/
[Arab Banking Corporation (Jordan)] http://www.arabbanking.com.jo/
[Arab Jordan Investment Bank] http://www.ajib.com/en
[Bank al Etihad] http://www.bankaletihad.com/
[Bank of Jordan] http://www.bankofjordan.com/boj50/index.htm
[Cairo Amman Bank] http://www.cab.jo/
[Capital Bank of Jordan] http://www.capitalbank.jo/
[Central Bank of Jordan] http://www.cbj.gov.jo/
[Companies Control Department] http://www.ccd.gov.jo/english/index.php
[Invest Bank] http://www.investbank.jo/
[Jordan Ahli Bank] http://www.ahli.com/
[Jordan Commercial Bank] http://www.jcbank.com.jo/en
[Jordan Kuwait Bank] http://www.jkb.com/
[Securities Depository Center] http://sdc.com.jo/english/index.php
[Société Générale de Banque – Jordanie] http://www.sgbj.com.jo/sgbj/en/Home
[The Housing Bank for Trade & Finance] http://www.hbtf.com/wps/portal
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
18
About the Author
Awarded First Class Honours in Bachelor of Arts
(Honours) Business Management from the
University of Greenwich, London – UK.
Working as a Project Finance Officer for an Iraqi-
owned Group in which representing the CEO and
shareholders' interest in 23 companies,
subsidiaries and affiliates in Iraq, Jordan,
Lebanon and UAE.
Previous works related to the Jordanian Banking
Sector:
1. Jordan's Commercial Banking Sector
Ranking as of June 30, 2013.
2. Are Jordanian Banks Jordanian?
3. The External Auditors' Market Share in
the Jordanian Banking Sector in 2012.
4. Retail Branches per Jordanians: Retail
Banking Statistics in Jordan
5. Jordan’s Commercial Banking Sector
Ranking as of December 31, 2013
Key Skills:
1. Budgeting & Forecasting
2. Business Development, Planning & Troubleshooting
3. Cost Analysis & Cutting
4. Entrepreneurship, SMEs & Local Development
5. Financial Analysis, Modeling & Studies
6. Feasibility & Research Studies
7. Legal Writing
Commercial Banking Sector’s Direct Credit Facilities as of December 31, 2013
19
Contact Details:
00962 7 9767 7418