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INVESTBANK registers JOD 5.6 million in net profits during the first half of 2020

Thursday, August 6, 2020

INVESTBANK has recently announced its financial performance indicators for the first half of 2020, registering net profits of JOD 5.6 million compared to JOD 7.5 million during the same period last year.

According to INVESTBANK’s financial data, direct credit facilities as of late June reached approximately JOD 703 million, compared to 674 million in 2019, while provisions against expected credit loss increased by JOD 3 million year-on-year. Total assets reached JOD 1.1 billion, while customers’ deposits reached JOD 716 million.

Commenting on these results, INVESTBANK’s Chairman Bisher Jardaneh underscored the bank’s solid capital base and healthy overall indicators, which come despite the exceptional economic circumstances currently levelled against Jordan due to the ramifications of COVID-19. INVESTBANK had previously announced its donation of JOD 730,000 to the Himmet Watan Fund — the Kingdom’s official response fund to the pandemic — as well as the Naua Foundation and other local organizations, all of which has been earmarked to combat the health crisis and its various repercussions.

Jardaneh also noted that the short-term challenges emanating from the crisis will be met with unwavering commitment by INVESTBANK Board and management in line with its forward-thinking risk mitigation strategy, which prioritizes client interests and the preservation of the bank’s assets.