Castle News | INVESTBANK divides 10% of capital and elects new board of directors

castle news:

The Annual General Meeting of INVESTBANK (the Investment Bank), during its regular annual meeting, held under the chairmanship of the Chairman of the Board of Directors Bishr Jardaneh, through visual and electronic communication will recommend the Board of Directors ( 10) million dinars in cash dividends to shareholders at a rate of (10%) of capital. During the meeting, which was attended by the members of the board of directors and the general manager of the bank, Montaser Dawas, and shareholders who hold shares personally and by proxy, more than (92%) of the capital, the report of the board of directors and the bank’s financial statements for the year 2021 and its future plans, which focus on the development of the bank’s electronic banking services, in addition to the automation and modernization of its used systems and banking operations, which are reflected on customers by secure levels providing electronic transactions, which increases the efficiency of operations and reduces the risks associated with them.

Jardaneh said in his speech before the general meeting that the bank has maintained a continuous growth in its business, which is positively reflected in its financial performance, as the bank’s net profit after tax in 2021 amounted to 18 million dinars, compared to 6 million dinars in the year 2020. The bank’s pre – tax profits are 28 million dinars in 2021, compared to 7.9 million dinars in 2020.

He pointed out that the results obtained were in parallel with the precautionary policy followed by the bank’s management in monitoring precautionary allocations to address the effects of the economic challenges associated with the Corona pandemic in exchange for any future losses that may arise from direct credit facilities.

At the end of the meeting, the General Meeting elected a new Board of Directors for INVESTBANK for a term of four years.

In a related context, the INVESTBANK Board of Directors honored the Chairman of the Board, Bisher Jardaneh, after a 15-year career of giving and excellence.

The Board pointed to the crucial role of Jardaneh, his high work ethic and his enlightened leadership, which contributed to the construction of a strong banking and financial building. During the years of its operation, the bank’s capital base doubled, as the period between (2008-2021) saw a growth in profit at a rate of (18%) annually.

The Board made clear that Jardaneh had used his long experience to serve the Bank and made a qualitative leap in his business and follow-up of the Bank’s management in implementing the Board’s guidelines and strategic objectives represented in complying with the needs and aspirations of its high-income clients and small and medium-sized companies, while diversifying sources of income, either through the Bank or the acquisitions made at its various subsidiaries (which also provide Islamic financing for various products) and the Bank’s efficiency improved its operational activities, which did not help to achieve outstanding results despite the many external circumstances and challenges experienced by the national economy.

The Board stated that the Executive Board has worked to implement the directives of the Board, chaired by Jardaneh, with the skill and ability to keep pace with the rapid global banking developments, and to transform the Bank into an integrated electronic bank. which is a pioneer in the provision of innovative solutions, products and services, as all these plans have contributed to making INVESTBANK the first among the commercial banks.In the Kingdom in the field of credit card use, most valued for the level of services provided to high-income customers. , in addition to the great focus on medium and small companies and the provision of the highest standards of security that are followed worldwide, with the aim of providing a rich and secure experience to a growing base of the bank’s customers, both individuals and companies, through the search for the optimal use of financial resources and capital, in addition to efficient management, in line with the development of risk management processes in all its operations.

During Jardaneh’s presidency, INVESTBANK received numerous awards and certificates of appreciation, which are considered a global and regional appreciation for the efforts made by the Bank in various areas of its work, particularly those related to the provision of advanced and highly reliable digital services, which at the same time reflect the Bank’s unwavering commitment to digital transformation.

The members of INVESTBANK’s Board of Directors, its Executive Management and all employees of the Bank expressed their best wishes for success for Jardaneh in its new future plans.

Jardaneh, in turn, expressed his pride in INVESTBANK’s financial strength, maturity in performance and customer service, reliable corporate governance, best practice governance and governance systems, and leading executive management in its performance and adherence to established values ​​and institutional culture. Jardaneh has thanked the Central Bank of Jordan, its apparatus, governors and former and current deputies for their genuine partnerships over the past few years. He also thanked the board and the Bank’s senior shareholders and the new board and its chairman, mr. Fahmy Abu Khadra, good luck.

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