Mr. Abduljabbar Hayel Saeed, the Chairman of Tadhamon International Islamic Bank, said that the consolidated balance sheet of the Bank exceeded 525 billion and 173 million YER by the end of 2013, which was an increase of about 16% (&4 billion and 323 million YER) from the end of 2012.

Mr. Abduljabar Hayel Saeed added during the annual general meeting and the extraordinary general meeting that was held on Thursday, 5/8/2014 in Sana’a, that the Bank’s revenue grew by 34% and amounted to 32 billion and 769 million YER, compared with 24 billion and 448 million YER in 2012.

He noted that customer balances and deposits witnessed another jump, rising to 451 billion and 511 million YER, an increase of 74 billion and 323 million YER from 2012.

He stressed that Tadhamon International Bank was able to achieve good results in the Yemeni markets thanks to its strong solvency, which enabled it retain high levels of capital adequacy at 14.7%, exceeding the rate set by the Central Bank of Yemen and the Basal Committee, which is 8%.

At the meeting the General Assembly was briefed on the report of the Board of Directors about the activities of the bank during the fiscal year ending December 31, 2013, and it approved and discussed the Bank’s financial statements and auditor’s report accounts. The General Assembly approved them and listened to the report of the Legal Supervisory Board, acquitted the Chairman and Members of the Board of Directors, and authorized the Chairman to choose an auditor for the 2014 fiscal year.

It also elected four new members from among the independent shareholders to meet the requirements for governance in accordance with the directives of the Central Bank of Yemen.