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Bank of Palestine Buys 7.74% of Investbank Shares

Date: 
Thu, 10/14/2010

Chairman of the Board of Directors of Investbank Mr. Bisher Jardaneh announced that Bank of Palestine, one of the largest national banks in Palestine, bought 7.74% of Investbank shares which reflects confidence in the solid performance and great achievements of Investbank.

Investbank is listed on the Amman Stock Exchange (ASE) with a capital of JD77.5 million and a market capitalization total of JD139.5 million. Its assets totaled JD674.50 million as of March 2010.

Bank of Palestine, which has an excellent financial reputation, signed a consultation services agreement with the International Finance Corporation (IFC) in order to enhance risk management.

Mr. Jardaneh assured the Bank’s clients and investors that the Board of Directors strive to double their profits, in addition to its commitment to the Bank’s strategy, plans, programs and building upon its relationships with its clients and investors, as well as serving the Jordanian society.

Mr. Jardaneh tackled the new institutional identity and the changes that will accompany this new phase as of 2010. The changes in the products and services as well as the strategy will positively reflect on clients and investors alike. The Bank is striving to serve its clients through its network of eight branches across the Kingdom with plans to open new ones.