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INVESTBANK Total Profits Increase to Reach JD23 Million by the End of Q3 2022

Monday, October 31, 2022

INVESTBANK, the leading bank in providing innovative solutions, has announced profits of JD23 million in the first three quarters of 2022. According to the bank's financial statements, net profit after tax increased by 10%, reaching JD15.2 million at the end of the third quarter of 2022, compared to JD13.9 million during the same period of 2021.

Net credit facilities provided by INVESTBANK to its individual and corporate clients increased to JD813 million at the end of the third quarter of 2022. The bank also recorded an increase in its total assets at the end of Q3, reaching approximately JD1.4 billion, while total customer deposits increased by the end of September 2022 to reach JD875 million. Total equity also rose by the end of September to reach JD190 million, return on equity amounted to 10.7%, while return on assets totaled 1.5%.

Commenting on the results, INVESTBANK Chairman Fahmy Abu Khadra said that the bank’s outstanding performance and the increase in its net profits during the first nine months of 2022 were driven by an increase in revenues from its diverse banking activities, effective financial management, its flexible approach to risks and its powerful business model. According to Abu Khadra, these stellar results were achieved despite the challenging global economic environment and its impact on the Jordanian economy.

Abu Khadra went on to stress that INVESTBANK will continue to implement its long-term strategy, with a focus on accelerating its digital transformation, as well as advance its banking solutions to meet the unique needs of both its individual and corporate clients, allowing them to achieve growth and cementing the bank’s position in the Jordanian banking market.