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INVESTBANK Chairman Announces Private Placement Results

Date: 
Tue, 01/24/2012

Upon announcing the results, Mr. Bisher Jardaneh INVESTBANK Chairman of the Board ?said:“On behalf of INVESTBANK, I would like to thank our shareholders for their trust and ?support to the bank in our effort to strengthen its position as a local bank that offers complete ?and unique financial services.”?

Expressing his comfort towards this development, he added: “Now with this capital increase, ?the bank shall have a stronger competitive edge in the market. We shall be able to widen the ?scope of our services in the various business sectors as well as enforce our strategy in funding ?medium corporations, offer special financial services and wealth management services which ?the bank intends to roll out within the coming two years.”?

The capital increase will also serve the bank’s financial subsidiaries Al Imdad (supply chain ?finance solutions), Mawared (brokerage solutions) and Tamkeen (leasing solutions) to widen ?their scope of work. Other specialized financial subsidiaries are currently under consideration, ?subject to feasibility.?

? He finally stated: 2011was a good year at INVESTBANK, and we trust in 2012 the bank shall ?witness more success, growth and development. This capital increase shall help us towards ?playing our role in bettering the local economy and ensuring a high return for our ?stakeholders.”?