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INVESTBANK's profits increase to JOD7.5 million after tax for the First Half of the year 2019

Thursday, August 1, 2019

INVESTBANK has announced its financial results for the first half of 2019, which showed an increase in net profits after tax to reach JD7.5 million, compared to JD7.3 million during the same period in 2018.

INVESTBANK’s financial results reflect the success of its consistent and prudent management policy, as well as its strategy that aims to achieve healthy growth ratios whilst maintaining a strong financial position. The bank's total assets reached JD 101 billion as of the end of June 2019, while net equity reached JD 174 million as of the end of June 2018.

INVESTBANK Chairman Bisher Jardaneh spoke of his pleasure at the bank’s financial results, which came about despite the difficult regional and economic conditions affecting the national economy. He also spoke of his appreciation for the executive management’s role, as well as all bank employees, for their part in the achievement of the results, which have reinforced its position within the Jordanian banking market. Jardaneh pointed out INVESTBANK’s ability to deal with local and regional challenges by adopting prudent budget management and risk reduction tactics.

Jardaneh emphasized INVESTBANK’s determination to continue its exceptional journey and maximize its profits through the implementation of strategic plans, which have been sanctioned by the Board of Directors, with a special focus on SMEs. He went on to add that the banking services provided by the bank and its subsidiaries (Jordan Factoring Company, Jordan Commercial Facilities Company, Bindar Trading & Investment, Tamkeen Leasing, Supply Chain Finance Company, and Mawarid Financial Brokerage Company) form an integrated banking environment that meets all the financing needs of its clients.

Jardaneh also spoke of INVESTBANK’s efforts to continue developing its products and services, as well as improving the quality of its revenues, adding that the bank’s subsidiaries have recently started offering Islamic banking financing to its clients.

In February, INVESTBANK announced net profits after tax of JD16 million in 2018, while profits before income tax saw an increase from JD19.7 million to JD21.2 million in 2017.

Also in 2018, the bank's assets rose to JD1.2 billion and total income to JD50.1 million, while direct credit facilities increased to JD689 million and client deposits to JD748 million.