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INVESTBANK Announces that Pre-Tax Profits for the First Half of the Current Year Amount to JD10.5 Million

الخميس, آب 30, 2018

INVESTBANK announced that it achieved positive results for the first six months of the current year compared to the same period last year.

According to the financial statements issued by INVESTBANK, profits before income taxes for the first half of the current year rose to JD10.5 million, compared to JD6.4 million during the same period in 2017.

The bank's net profit rose by JD2.5 million during the first six months of the year, reaching JD7.3 million, compared to the same period the previous year.Total income in the first six months of last year increased by JD1.8 million, reaching JD25.6 million as of the end of June.

INVESTBANK's positive financial results reflect the bank's balanced performance and its ability to achieve an outstanding growth rate while maintaining its strong financial position. Equity rights during the first half of the current year rose to reach a total of JD173.2 million.

The bank's solid performance was also apparent in the volume of direct credit facilities, which increased by 3.3% from JD645 million in 2017 to JD667 million in the first quarter of the current year. Customer deposits also grew by 2.4%, reaching JD692.1 in the first half of the current year, compared to JD676.1 million in 2017.

Commenting on the results, INVESTBANK Chairman Bisher Jardaneh said: "In the first half of the current year, the bank continued to achieve strong financial results and outstanding growth rates in all sectors of its operations in spite of the state of uncertainty prevailing throughout the Arab region in general, which affects Jordan negatively. This affirms the high rate of flexibility the bank enjoys in dealing with various circumstances through its prudent budgetary management and risk aversion strategy."

Jardaneh went on to add, "INVESTBANK relies on a clear work plan based on solid financial principles that accompany the most recent developments in international banking in a manner that helps provide new and innovative products and services that fulfil the needs of the bank's customers, and contributes to reinforcing its pioneering position in the local market."