Jordan Islamic Bank posts 28.9 pct drop in H1 profit

Net profits at Jordan Islamic Bank, the country's largest Islamic lender, dropped 28.9 pct to 14.68 million dinars ($20.7 m), the bank's financial statements showed on Thursday.The balance sheet obtained by Reuters also showed second-quarter net profits fell to 7.628 m dinars from 12.57 m dinars posted a year earlier.

Net income in the first half of the year was 34.5 m dinars against 37.272 m dinars in the same period last year, the statement showed.The Islamic lender's total assets rose to 2.34 billion dinars ($3.3 bn) at the end of June 2010 from 2.183 bn dinars at the end of last year, with more depositors seeking a safe haven in Islamic banks perceived as less affected by the financial crisis.