Jumhouria Bank: First Bank in Libya
Jumhouria is the number one bank in Libya. The creation of Jumhouria Bank was the result of a merger between Al Ummah Bank and Jumhouria Bank. Today, the bank has a total capital of about LYD 1 billion and total assets for 2012 of LYD 33 billion on balance sheet and about LYD 12 billion dinar off balance sheet for a total of about LYD 44 billion.
Jumhouria is the number one bank in Libya. The creation of Jumhouria Bank was the result of a merger between Al Ummah Bank and Jumhouria Bank. Today, the bank has a total capital of about LYD 1 billion and total assets for 2012 of LYD 33 billion on balance sheet and about LYD 12 billion dinar off balance sheet for a total of about LYD 44 billion.
The banks offers a wide range loans to individuals as well as the public sector. In addition, the bank offers social loans for the lower earning strata.
According to the General Manager of Jumhouria Bank Ahmed Rajab, “The figures for 2010 were already released. This leading bank in Libya generated a net profit and distributed 11% dividend to the shareholders.”
“Jumhouria Bank is the largest bank in Libya with a large volume of assets and good profits especially for the potential market in Libya. The 2012 looks to be a profitable year on the backdrop of a lot of contracts that have already been signed by the government and international companies, especially for construction and the infrastructure of the country.”
“At the same time, despite 2012 being just the first year after the revolution, the bank generated a net profit of 240 million Libyan dinar, which makes about 24% of the capital,” adds Rajab.