On November 28th, 1982, Jordan Investment and Finance Bank (INVESTBANK) started its activities as a financial company under the name Jordan Investment and Finance Company with an authorized capital of JD6 million in which half was paid on the opening of its Initial Public Offering (IPO) while the rest was paid within a year of granting the final license.
A group of founders headed by the late Nizar Abdul Rahim Jardaneh set the first foundation stone for this financial institution which contributes to the development of the Jordanian financial industry. The aim was to provide the required financing to the economic sectors in order to enrich their achievements and increase opportunities of economic and social development in Jordan.
Founders aimed at being compatible with the economic growth requirements as well as achieving a good return for the shareholders, supporting national savings, and using resources to sustain financial activities.
A brief look at the development of the paid up capital of the bank shows that it has grown 17.2 times from JD4.5 million in 1989 to JD77.5 million in 2010. The successive increases were due to the profits of the bank with the exception of 1997, 2002, and 2003. In addition, the return on the bank’s shares increased since 1982 until the year 2009 from no more than JD1.238/share to revenues close to JD7.64 along with profits of JD1.152/share during this period. Furthermore, the share had equaled 4.32 shares, a market value that reached JD6.49 towards the year-end of 2009. These indicators give us an idea of the high returns INVESTBANK shareholders received.