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INVESTBANK distributes 11% of its capital in cash dividends to shareholders amounting to 11 millionJordanian dinars

Thursday, April 25, 2019

During the annual general meeting held at the Bank's General Administration building in Shmeisani, headed by Bisher Jardaneh, INVESTBANK’s General Assembly approved the recommendation of the Board of Directors to distribute 11% cash dividends to the shareholders of the Bank's capital of JD 100 million, after achieving a net profit of 16 million Jordanian dinars in 2018.

Mr. Zakaria Al-Samadi, the General Controller of Companies, announced the legality of the meeting after the presence of 17 shareholders holding 83.9% of the Bank's paid-up capital of JOD 100 million. The meeting was also attended by the representatives of the Central Bank of Jordan, Mrs. Nissreen Kushoo’ and Mr. Mohammad Al Malahi.

In his address to the General Assembly, Jardaneh stated: "The results of INVESTBANK come to reflect the stability of balanced performance in terms of maintaining good levels and returns for its shareholders. The net profit in 2018 after tax was JOD 16 million, while the Bank's income before income tax increased by 7.4% from 19.7 million JOD in 2017 to 21.2 million Jordanian dinars in 2018. "

Furthermore, the total assets of the Bank increased by 7.3% in 2018 to reach JOD 1.2 billion compared to JOD 1.1 billion in 2017, while total income in 2018 was JOD 50.1 million.

According to Jardaneh, the future plan for INVESTBANK for 2020 includes targeting small and medium-sized companies through the Bank and its subsidiaries (Jordan Factoring Company, Jordan Commercial Facilities Company, BINDAR Trading and Investment Company, Tamkeen Leasing Company), to form an integrated banking environment that meets the banking needs of clients. He pointed out that Islamic banking is available to clients desiring it through products provided by subsidiaries to meet their credit needs.

Mr. Jardaneh stressed that INVESTBANK continues to keep abreast of the technological developments in the field of electronic banking, which contribute to improving the quality of services provided to clients and the accompanying electronic infrastructure that matches international banks to provide safe levels of electronic transactions, which in turn contributes to increasing the efficiency of operations and saving time and effort. It also makes the client a partner in these innovative banking products from the Bank, which is one of the first banks operating in the Kingdom to use credit cards issued by it and is furthermore one of the most appreciated banks by high-income clients for its quality services.

Jardaneh noted that INVESTBANK has not neglected to develop the banking risk management processes in all of its operations and to achieve a sustainable investment return through which it will make optimum use of its financial resources and ensure their efficient management.

According to the Bank's financial statements, the volume of direct credit facilities increased by 6.8% during the year 2018 from JOD 645 million at the end of 2017 to JOD 689 million at the end of 2018. Customer deposits increased in 2018 to reach JOD 748 million at the end of 2018, with 676 million Jordanian dinars at the end of 2017, representing an increase of 10.6%.

Jardaneh emphasized that INVESTBANK has been able to continue to achieve achievements at various levels and has absorbed the latest technological developments in its banking services to be the forerunner and pioneer in the Jordanian banking sector in the tracks and services it has set out for its strategic objectives.

At the end of his speech, Jardaneh thanked the Bank's shareholders and employees for this renewed success year after year, while at the same time appreciating the trust the Bank's permanent clients have vested in it.