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INVESTBANK Achieves Net Profit of JOD 6 Million During First Quarter of 2023

Friday, April 28, 2023

INVESTBANK, the leading bank in providing innovative banking solutions, announced positive financial results in the first quarter of 2023, with a net profit of JOD 6 million during this period, while the total profit before tax reached around JOD 8.4 million.

The first three months of the year witnessed a 16.8% growth in INVESTBANK's total assets, reaching JOD 1.7 billion, compared to JOD 1.4 billion at the end of last year, 2022. The return on assets in the first quarter of the current year reached 1.6%, compared to 1.5% at the end of last year.

Financial data showed an increase in customer deposits by 20% to reach JOD 1.1 billion, compared to JOD 918.1 million at the end of last year, while the net credit facilities provided by the bank to its individual and corporate customers from various segments and sectors reached around JOD 829 million by the end of the first quarter of the current year.

INVESTBANK maintained a strong and sturdy capital base, where the total equity exceeded the 200-million-dinar mark, reaching JOD 204.1 million at the end of the first quarter of the current year, compared to JOD 195.5 million at the end of 2022, with an increase of 4.4%. The return on shareholders' equity reached 12.0%, compared to 10.6% at the end of last year.

Commenting on these results, INVESTBANK’s Chairman, Mr. Fahmi AbuKhadra, stated, "We are proud of our continued success in INVESTBANK in registering positive financial results and achieving more accomplishments while maintaining a strong capital base, which reflects the flexibility of the bank's core business and its ability to deal with various factors that affect the local banking market with the impact of global markets." He also highlighted the bank's leadership in providing innovative digital banking services that keep pace with and match global banking services.

AbuKhadra expressed his gratitude to the bank's individual customers and corporate clients for their continued trust and loyalty towards the bank. He also thanked the shareholders for their unwavering commitment and support of the bank.