INVESTBANK held its ordinary general assembly meeting for the year 2011, which took place at the bank’s new headquarters in Abdel Hamid Sharaf St. in Shmeisani.
Heading the meeting, the bank's Chairman of the Board, Mr. Bisher Jardaneh along with the bank’s CEO, Mr. Muntaser Dawwas, representative delegation from the Ministry of Industry and Trade, Companies’ Observer and the Central Bank of Jordan; the general assembly approved the final financial statement for the year 2011.
Starting the meeting Mr. Bisher Jardaneh announced approving the board's recommendation to distribute 8% dividends to the shareholders with a total of JD 8 million. Distributing these profits will start at the second quarter of 2012.
Financial results achieved in 2011 were discussed during the meeting. The shareholders’ equity reached JD 131 million, compared with JD 107 in 2010, recording an increase of 22%. The gross income reached JD 36.49 million compared with JD 34.89 million in 2010, with an increase of 4.5%, besides achieving JD 9.6 million net profit after tax. Whereas credit facilities size reached JD 387 million, compared with JD 374 million in 2010, the amount of clients' deposits reached JD 470 million compared with JD 449 million in 2010 and the capital adequacy ratio reached 18.03%, while the required ratio is 12% according to the Central Bank of Jordan and 8% according to Basel Committee.
Commenting on the results Mr. Jardaneh said: "I thank our shareholders, employees and clients’ trust and commitment towards the bank as we were able to achieve such great results. I am confident that the bank will continue to accomplish steady growth with solid steps towards achieving our strategy".