Investbank increases its capital to JD100 million

Investbank's General Assembly held its extraordinary meeting at King Hussein Club in the presence of the Chairman of the Board , Mr. Bisher Jardaneh, the Acting Chief Executive Officer, board members, shareholders as well as delegates from the Companies Control Department, Central Bank of Jordan and Deloitte and Touche.

The attendees discussed and approved the Board recommendation of increasing the Bank’s capital, pursuant to the Central Bank’s instructions, to 100 million Jordanian Dinars / shares through the distribution of bonus shares by 10 percent of the paid-up capital along with the capitalization of profits and retained earnings of 7,750, 000 Jordanian Dinars.

In addition, the General Assembly approved the offering of 14.75 million shares through a Private Subscription to existing shareholders at one dinar per share.

Mr. Jardaneh, Chairman of the Board, said: "The capital’s increase will have a positive impact on the implementation of future plans and strategies of the Bank as it reinforces (emphasizes?) the Bank's financial strength and commitment to do everything we can to meet the expectations of our clients and shareholders alike in the reinforcing the Bank's financial capacity and investment.”

It is worth mentioning that the Board of Directors approved, in a previous meeting, the appointment of Madaba Financial Investments, represented by Mr. Ayman Shafiq Jumean as Deputy Chairman of the Board.