INVESTBANK, a leader in providing innovative banking solutions, has announced robust financial results for the third quarter of 2024. The bank recorded an increase in net profits, reaching JOD 21.5 million, compared to JOD 19.2 million during the same period in the previous year.

The bank’s total profits before tax were reported at JOD 29.6 million at the end of the third quarter of 2024, showing an increase from JOD 26.4 million in the same period last year.

The financial statements further revealed an 11.7% increase in net credit facilities, reaching JOD 1.2 billion by the end of this third quarter, up from JOD 1.1 billion at the end of last year. The bank’s assets also grew by 11.6% during the first nine months of this year to exceed JOD 2 billion, compared to JOD 1.8 billion at the end of last year. Additionally, total customer deposits as of September 2024 stood at approximately JOD 1.4 billion, marking a 13.7% increase from JOD 1.2 billion the previous year.

Fahmi Abu Khadra, Chairman of INVESTBANK, commented on the results, stating, “These positive outcomes reflect the bank’s capability to sustain growth amidst a fluctuating economic environment. Our strategic focus on innovation and providing exceptional financial services has driven this performance. The significant growth in our loan portfolio and customer deposits is a testament to the trust our customers place in us and our commitment to delivering top-notch banking services.”

Abu Khadra further noted, “We are committed to continuing the development of our operations and expanding our customer base, while maintaining our prudent approach to risk management and delivering innovative financial solutions. We look to the future with confidence and optimism, poised to maintain this positive trajectory and achieve further successes.”

Notably, the return on equity at INVESTBANK increased to nearly 13% at the end of the third quarter of this year, compared to 12.3% at the end of 2023. Additionally, the return on assets as of the end of September this year was recorded at 1.4%.