Jordinvest demonstrates profitability in 2010

Press release

Published May 31st, 2011 - 06:28 GMT

Ahmad Tantash, CEO of Jordinvest

Jordinvest’s general assembly meeting proved satisfactory results after all shareholders approved the annual report demonstrating profitability despite an economically challenging year.

The company balance sheet is healthy confirming an increase in profitability, decrease of expenses – down to a third of 2008, and a significant reduction in liabilities. This, in turn, will allow for further expansion into private equity activities.

The geographical and sectoral diversified investments have also held strong illustrating a defense against recession or a cycle down turn in the economy. The future is looking bright due to these investments once the market, as a whole, improves.

“We are excited about our 2010 results and look forward to a promising year. Our future plans include deriving higher income from our corporate finance activities and further expansion.” Ahmad Tantash, CEO of Jordinvest, commented on the company’s future goals and plans. “We also want to emphasize and reinforce Jordinvest’s identity with its customers, channels, and other external entities.” he added.

Background Information

Jordinvest

Incorporated in Jordan in 1998 with a paid-up capital of JD 15.4 million (US $21.7 million). In 2005, the capital was increased to JD17million (US $23.9million), then to JD29.5million (US$41.5million) in 2006. Jordan Investment Trust PLC- Jordinvest is a regional merchant and investment bank based out of Jordan. Our products include direct investments, capital markets, and advisory services.

The company's shareholders, provide an exceptional structure and network that enables the firm to meet the financial needs of its clients. Jordinvest is able to draw not only on its own capital, but also on the financial resources of a committed shareholder base, which places Jordinvest in a favorable position to play a major role in the development of the regional economies and capital markets by providing comprehensive advisory services, structuring and placement of innovative products, and conducting specialized economic, sectoral and equity research.