INVESTBANK 2018 net profits rise to JOD16mln

Amman, INVESTBANK on Sunday announced that it achieved a net profit of JOD16 million (after tax and provisions) in 2018 compared with JOD15.8 million in 2017.

The bank’s total earnings (before tax and provisions) grew by 7.4 percent to JOD21.2 million in 2018 against JOD19.7 million in 2017, it said in a statement.

Direct credit facilities provided by the bank in 2018 edged up by 7 percent to JOD689 million compared with JOD645 million at the end of 2017. Customer deposits increased to JOD748 million compared with JOD676 million at the end of 2017, an increase of 11 percent.

The bank’s total assets expanded by 7.4 percent to JOD1.15 billion at the end of 2018 compared with JOD1.17 billion at the end of 2017, while the total income in 2018 amounted to JOD50 million.

Source: Jordan News Agency