Jordan Kuwait Bank’s general assembly of shareholders approved at its meeting on Monday, April 25, 2016 the Board of Directors’ report and the financial statements for the year ended December 31, 2015, the business plan for the year 2016 and the Board of Directors recommendation to distribute 20% cash dividends equivalent to 20 million Jordanian Dinars. The general assembly of shareholders was presided over by H.E. Mr. Abdel Karim Kabariti, Chairman of the Board of Directors, and was attended by the board of directors, the Bank’s executive management, the representative of the Companies Control Department, the representative of the Central Bank of Jordan, the Ban’s auditor, Deloitte and Touche – M.E., shareholders and members of the press and local media agencies. The financial results for the year ending 31/12/2015 showed an increase in the Bank’s total assets to reach JD 2.845 billion; a 9% growth from 2014.  Total direct credit facilities (net) amounted to JD 1.373 billion; achieving a growth of 5.1% from the previous year all the while continuing to improve the credit portfolio quality. Customer deposits also recorded a good growth at about 13.8% reaching JD 1.9 billion by year end. As a result of the Bank’s main activities, net income for the year 2015 amounted to JD 127.9  million against JD 124.1 million in 2014. In line with the Bank’s policy aiming at increasing provisions to cover non-performing loans, the Bank’s profit before taxes reached JD 56.5 million and Net profit after taxes reached JD 39.4 million.  Total owners equity grew by 4% and reached JD 454.3 million. Performance indicators and efficiency ratios maintained their upper limits set by international standards as a result of the prudent policies adopted by the bank in managing its assets and liabilities and continued distinguished financial performance, the capital adequacy ratio increased in 2015 to reach 18.27% against 16.68% in the previous year. This ratio indicates that the Bank has a strong capital base “well capitalized”, and assures its ability to meet the requirements of Basel 3 pertaining to regulatory capital expected to be applied on the June 30, 2016 financials. Also, the general assembly of shareholders held an extraordinary meeting in which they approved the Board of Directors’ recommendation to increase the number of board members from 9 to 13 whereby 4 new independent members were elected, in compliance with the Corporate Governance regulations issued by the Central Bank of Jordan. The four new members appointed and approved by the general assembly are: H.E. Dr. Marwan Jamil Muasher H.E. Mr. Marwan Mahmoud Awad Mr. Hani Khalil Hunaidi Mr. Majed Fayyad Burjak The tenor of the new members’ membership is effective from the date of their election until the end of the current board’s term in 2017.