INVESTBANK, the leading bank in providing innovative solutions, announced its financial results for the first half of 2024, showcasing substantial growth in gross income and net profits after tax. This growth was driven by an increase in credit facilities and a rise in customer deposits.

The bank’s financial statements revealed that net profits surged by 10%, reaching JOD 14.1 million by the end of June 2024, compared to JOD 12.8 million during the same period in 2023. Additionally, INVESTBANK’s net credit facilities provided to individual and corporate clients grew by 10% to JOD 1.2 billion, compared to JOD 1.1 billion at the end of last year.

Customer deposits witnessed a 10% increase, totaling JOD 1.4 billion by mid-2024, compared to JOD 1.2 billion at the end of last year. Moreover, the bank’s total assets rose by 7.5% to approximately JOD 2 billion by the end of June, compared to JOD 1.8 billion at the end of 2023. Total equity also grew, reaching JOD 214.5 million in the first half of this year, up from JOD 212.4 million at the end of 2023.

"These robust financial results reflect the strength of our business model and our ability to drive sustainable growth under various economic conditions,” commented Fahmi Abu Khadra, Chairman of the Board of Directors of INVESTBANK. “This excellent performance is credited to our investment team’s dedication to providing top-notch banking services and implementing our strategy to solidify our leadership in the Jordanian banking sector."

Abu Khadra highlighted the growth in direct credit facilities and customer deposits as indicators of increasing customer confidence in the bank. He noted that the high return on equity underscores the efficient use of resources and the bank’s ability to generate profitable returns for shareholders. He emphasized that the bank's team remains committed to enhancing its market position by delivering outstanding services to customers, with a focus on innovation and sustainability.

Abu Khadra also expressed his gratitude to the bank’s executive management and all employees for their dedication and hard work, as well as to the bank's customers and shareholders for their trust and ongoing support."We are confident that the bank will continue to achieve more successes in the future, bolstered by our ambitious vision and steadfast commitment to meeting our customers' needs and delivering added value to shareholders,” he added.

INVESTBANK recorded an increase in return on equity (ROE) to 13.2% in the first half of this year, compared to 12.3% at the end of last year, while the return on assets (ROA) remained stable at 1.5%.