JODIC releases 2018 annual report

Jordan Deposit Insurance Corporation (JODIC) released its 2018 annual report, which highlights the corporation’s key achievements and its financial results during the year.

The report reflected the main indicators of the development of deposits and depositors in the banking system; 75.8 per cent of its deposits denominated in the local currency.

Also, the annual report demonstrated JODIC’s activities at the regional and international levels, illustrating its effective role through participating in the committees and events that are relevant to the deposit insurance industry.

As for the financial performance for 2018, JODIC’s financial statements disclosed an increase of JD83.5 million in total assets compared to 2017 to reach JD777.8 million by the end of 2018.

JODIC’s investment portfolio composed 97.8 per cent of those assets, and the return of investment amounted to JD36.4 million with a growth rate of 18.4 per cent compared to a year earlier. The report reflected the Corporation’s financial soundness through disclosing the indicators of the reserves adequacy, as JODIC’s reserves amounted to JD774.5 by the end of 2018.