On November 28th, 1982, Jordan Investment and Finance Bank (INVESTBANK) started its activities as a financial company under the name Jordan Investment and Finance Company with an authorized capital of JD6 million in which half was paid on the opening of its Initial Public Offering (IPO) while the rest was paid within a year of granting the final license.
A group of founders headed by the late Nizar Abdul Rahim Jardaneh set the first foundation stone for this financial institution which contributes to the development of the Jordanian financial industry. The aim was to provide the required financing to the economic sectors in order to enrich their achievements and increase opportunities of economic and social development in Jordan.
Founders aimed at being compatible with the economic growth requirements as well as achieving a good return for the shareholders, supporting national savings, and using resources to sustain financial activities.
A brief look at the development of the paid up capital of the bank shows that it has grown 17.2 times from JD4.5 million in 1989 to JD77.5 million in 2010. The successive increases were due to the profits of the bank with the exception of 1997, 2002, and 2003. In addition, the return on the bank’s shares increased since 1982 until the year 2009 from no more than JD1.238/share to revenues close to JD7.64 along with profits of JD1.152/share during this period. Furthermore, the share had equaled 4.32 shares, a market value that reached JD6.49 towards the year-end of 2009. These indicators give us an idea of the high returns INVESTBANK shareholders received.
|Name of Shareholder||Nationality||Number of Shares|
|Palestine Bank Co.||Palestinian||9,420,627|
|Abdul Rahim Nizar Abdul Rahim Jardaneh||Jordanian||8,918,393|
|Zina Nizar Abdul Rahim Jardaneh||Jordanian||6,514,588|
|Fahmi bin Fayeq bin Fahmi Abu Khadrah||Saudi||5,994,399|
|Raghad Hamdi Khalil Manko||Jordanian||5,843,347|
|Hazem Fayeq Fahmi Abu Khadra||Saudi||5,733,449|
|Samer bin Fayeq bin Fahmi Abu Khadra||Saudi||5,733,274|
|Ihab Shafi Farhan Jumaian||Jordanian||4,975,496|
|Leena Nizar Abdul Rahim Jardaneh||Jordanian||4,681,284|
|Kamco investment Company||Kuwaiti||4,350,000|
|THE CONGRESS FOUNDATION||Liechtenstine||3,656,216|
|Zainah Saad Khalaf Altal||Jordanian||2,310,936|
|Tamarah Saad Khalf Altal||Jordanian||2,310,935|
|General Investment Co.||Jordanian||2,175,755|
|Nabil Hani JAmil Qaddumi||Kuwaiti||2,153,936|
|Saad Hani Jamil Qaddumi||Kuwaiti||1,850,907|
|United Insurance Co.||Jordanian||1,598,222|
|Alzarka Grand Mills Co.||Jordanian||1,316,414|
Relations with the Shareholders are the cornerstone in the development of the operations of the Bank and the sustainability of its growth and improvement of its business, due to the importance of Shareholders support and their trust in the Bank. The Bank is keen to establish the best and strongest connections with the Shareholder by the following practices:
- Carryout serious and effective steps to encourage the Shareholders, especially the minor Shareholders, to attend the annual meeting of the General Assembly; to discuss the Annual Report and to vote, either in person or by proxy, through people representing them in case they are not able to attend.
- Invite all the Shareholders to attend the annual meeting of the General Assembly.
- Invite the external auditors to attend the annual meeting of the General Assembly to answer questions that the Shareholders may ask relating to the auditing and the report of the auditor.
- Vote on the issues separately during the annual meeting of the General Assembly.
- Elect new Board members, or re-elect from the current Board members, during the annual meeting of the General Assembly, in addition to electing an external auditor in compliance with the rules of the law and the relevant instructions.
- Prepare a report to present to the Shareholders regarding the remarks that have been raised during the annual meeting of the General Assembly, and the results thereof, including the outcome of the voting and the questions that were raised by the Shareholders and the replies of the Executive Management to those questions.
- Attendance of the annual meeting of the General Assembly by the heads of committees that branch from the Board of Directors.
- Receive, through the Bank's website, the recommendations of the Shareholders regarding the inclusion of specific items on the agenda of the General Assembly meeting, to guarantee that these recommendations will be studied and suitable action is taken accordingly.
Distributing Cash Dividends
Ordinary General Assembly Meeting date.
INVESTBANK announces the decision of the Board of Directors on 10/02/2019 the recommendation to the General Assembly to distribute 11% cash dividends of the bank’s paid in capital for the year 2018.
Inviting to the Ordinary General Assembly meeting of the bank on 24/04/2019.
- This recommendation is subject to approval by the Bank's General Assembly.
- This recommendation is subject to approval by the Central Bank of Jordan.
- Results of General Assembly Meeting
- Dividends Distribution
- Distribution of dividends to Shareholders starts on Sunday, 12th of May 2019.