The Ordinary General Assembly of Tadhamon Bank, was held this morning, Wednesday, November 03, 2021, in Sana’a, approved the report of the bank’s work ending on December 31, 2020, the report of the Shariah Supervisory Board and the report of the Independent Auditor.

The Chairman of the Board of Directors, Mr. Shawki Ahmed Hayel Saeed, started his speech to the General Assembly by congratulating the celebrations marking the 25th anniversary of the founding of the bank under the slogan (25 Years of Trust), which coincides with the bank’s celebrations in most governorates of the Republic.

The Chairman of the Board of Directors touched on the most important achievements and strategic business outcomes of the bank and the financial results that were achieved during the year 2020, as the internal structure of the bank was improved by making more proactive and effective, developing the institutional and informational infrastructure, expanding the market share, increasing the number of customers, raising the level of their satisfaction and progress in the level of banking service and social responsibility.

The Chairman of the Board of Directors reviewed the bank’s report of the year ending on December 31, 2020, where the bank’s customers’ deposits increased to 435.8 billion riyals compared to 428.4 billion riyals in the previous year, an increase of 2%. The bank was also able to distribute profits on its customers’ deposits in the year 2020 with a total amount of 12.2 billion riyals.

The bank’s total assets amounted to approximately 539.9 billion riyals at the end of the year 2020, compared to 547 billion riyals in the previous year, a decrease of approximately 1%.

With regard to the bank’s investment and financing portfolio at the end of 2020, it amounted to approximately 346 billion riyals, compared to a net amount of 368.6 billion riyals at the end of 2019, with a decrease of approximately 6%.

Tadhamon Bank also achieved a net profit of 948 million riyals in the year 2020, a decrease of 60% compared to the results of the previous year, which was 2.4 billion riyals. Thus, the retained profits of the bank amounted to approximately 1.59 billion riyals after setting aside approximately 94.9 million riyals, which represented an addition to the equity of the bank’s shareholders.

Due to the bank's continuous and fruitful efforts to improve its services towards individuals and companies alike, the bank was able to obtain the (The Strongest Islamic Retail Bank in Yemen 2020) award from (UK-Cambridge IFA) as the strongest Islamic bank that provides distinguished services to individuals in Yemen.