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INVESTBANK Profits Reach JD9 Million in the First Quarter of 2022

Thursday, April 28, 2022

INVESTBANK, the leading bank in providing innovative banking solutions, ended the first quarter of 2022 with outstanding results, further strengthening its position in the Jordanian banking market.

According to the financial statements, the bank’s net after-tax profits rose by the end of March to reach approximately JD7.2 million, compared to JD3.4 million during the same period of the previous year. Profits realized before tax in the first three months of the year amounted to approximately JD9 million, compared to JD5.1 million for the same period last year, an increase of 76.4%.

INVESTBANK’s financial statements also showed a 4.2% growth in net credit facilities provided to individual and corporate clients in the first quarter, reaching JD822 million, compared to JD789 million at the end of last year, while customer deposits amounted to JD825 million, compared to JD793 million at the end of 2021, an increase of 4.2%.

The bank’s total assets witnessed an increase of 3.9%, reaching JD1.330 billion at the end of the first quarter of 2022, compared to JD1.281 billion at the end of 2021, while the return on assets reached 1.4%.

The financial data published is a clear indication of the bank’s strong and solid capital base, with total equity amounting to JD192 million at the end of March, compared to JD185 million at the end of 2021, an increase of 3.6%, while return on shareholder equity reached 9.5%.

Commenting on the bank’s performance, INVESTBANK Chairman Fahmy Abu Khadra said, “During the first quarter of 2022, the bank continued its exceptional financial performance, which reflects the strength of its strategic plan, its flexibility when facing developments in the banking market, as well as its ability to keep pace with global developments in digital banking services that meet the unique needs of clients, both individual and corporate.”

Abu Khadra went on to add that the results confirm INVESTBANK’s leading position in the Jordanian banking market and the rapid growth of its portfolio, stressing that these achievements are the direct result of the diligence of the bank’s team members.