INVESTBANK Pre-tax Profits Reach JD28 Million by End of 2021

Monday, February 14, 2022

INVESTBANK, the leading bank in providing innovative financial solutions, has announced its financial results for the year ending on December 31, 2021, with an increase in its net profit of JD18 million after tax, compared to JD6 million at the end of 2020.

According to the initial financial statements, the bank’s total profits before tax doubled, registering JD28 million by the end of the year, compared to approximately JD7.9 million by the end of 2020.

The financial statements showed INVESTBANK achieved growth in all its financial indicators by the end of 2021, with net credit facilities increasing by 7.7% to reach JD789 million compared to JD732 million in 2020, while client deposits amounted to JD793 million, compared to JD767 million at the end of 2020, an increase of 3.4%. The bank’s total assets increased by 4.6%, registering JD1.3 billion, compared to JD1.2 billion in 2020 and return on assets was 1.4%.

According to the 2021 statements, the bank maintained its strong capital base, with total shareholder equity amounting to JD185.4 million and return on shareholder equity increasing to 9.9%. Based on the financial results, the bank’s Board of Directors recommended that cash dividends be distributed to shareholders at 10% of the capital for 2021. The bank’s financial statements and the distribution of cash dividends are subject to the approval of the Central Bank of Jordan and the bank’s General Assembly.

Commenting on the results, INVESTBANK Chairman Bisher Jardaneh said he was pleased at the exceptional achievements of 2021, with signs of economic recovery beginning to appear both regionally and globally, despite ongoing challenges. He went on to add that the bank continued to diversify its sources of income and to advance efficiency in all its operations while simultaneously adopting controlled risk and cost management systems.

Jardaneh stressed that the bank relies on a strategy of sustainable growth while continuing its plans for a digital banking transformation through a series of innovative services and solutions for its clients. He added that by the end of 2021, INVESTBANK had launched an updated version of iBank app, with new features and exclusive services that offer clients the ability to conduct their transactions safely, easily and efficiently around the clock, seven days a week.

In 2021, INVESTBANK was named the best bank for digital banking services by Global Banking and Finance magazine in recognition of its commitment to digital transformation and its role in providing advanced, innovative and reliable digital services. Previously, the bank was named the most active bank in Jordan in issuing international trade financing operations for 2020 by the European Bank for Reconstruction and Development (EBRD).