EFG-Hermes set the fair value (FV) of Bank of Jordan at JOD 2.70 per share, dropping 5.59% from its trading price, with the recommendation “neutral”.


Hermes’s evaluation came after Bank of Jordan announced its financial results to the Amman Stock Exchange (ASE) for the fiscal year (FY) ending December 31, 2014, reporting a growth in profit by 23.16% to JOD 44.8 million ($63.2 million), compared to JOD 36.39 million ($51.3 million) during the same period of 2013.


The fair value decline is attributed to the fact that revenue growth was below expectations, according to Hermes. However, the bank saw a rise in sales and provisions.


The market’s capital amounts to JOD 155.1 million at JOD 1 par value.