Invest Bank PSC (INB)

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News

8 September 2024 09:53 AM Invest Bank logs AED 99m net profits in H1-24

Abu Dhabi – Mubasher: Invest Bank posted an annual rise in net profit to AED 98.71 million during the first half (H1) of 2024, compared to AED 4.03 million. Net interest income hiked year-on-year (YoY) to AED 92.76 million in H1-24 from AED 45.97 …

Banking and Finance

22 August 2024 00:32 PM Invest Bank, Network International team up to reinforce digital payments offering

Abu Dhabi – Mubasher: Network International joined forces with Invest Bank to boost Network’s digital payment services to the bank’s corporate customers, according to a press release. The collaboration will enable Invest Bank to expand the …

Banking and Finance

12 June 2024 09:43 AM CEO of Invest Bank resigns

Abu Dhabi – Mubasher: Invest Bank’s CEO Ahmed Mohamed Fawzi Abu Eideh has resigned effective 11 June 2024. The bank’s board assigned the CEO role to a member of the senior management for an interim period, according to a bourse filing. The board …

Corporate Actions

31 December 2023 10:51 AM Invest Bank’s accumulated losses hit 20% of capital

Abu Dhabi – Mubasher: Invest Bank registered accumulated losses valued at AED 834.21 million as of 30 September 2023, accounting for 20.05% of the capital, according to a bourse filing.   The lender wrote off AED 2.10 billion accumulated loss as …

Banking and Finance

11 August 2022 07:21 PM Invest Bank’s losses shrink 9% in H1-22; accumulated losses announced

Abu Dhabi – Mubasher: Invest Bank has incurred net losses of AED 59.01 million during the first half (H1) of 2022, down nearly 9% from AED 64.93 million in H1-21. The loss per share declined to AED 0.019 in H1-22 from AED 0.020 in H1-21, according …

Banking and Finance

31 January 2022 03:53 PM Invest Bank's losses narrow 52% in H1-21

Abu Dhabi – Mubasher: The net losses of Invest Bank declined by 52% to AED 64.93 million in the first half (H1) of 2021, compared to AED 136.12 million in the year-ago period, according to the bank's consolidated interim financials for the …

Financial Results

23 May 2021 04:01 PM Invest Bank logs AED 1.75bn accumulated losses

Abu Dhabi – Mubasher: Invest Bank has incurred accumulated losses of AED 1.752 billion, representing 55% of the bank's capital, as of 2020. The accumulated losses are driven by the bank's non-performing loans, which have negatively affected its …

Financial Results

27 September 2020 00:09 PM CI affirms five Emirati banks' ratings; outlook 'stable'

UAE - Mubasher: Capital Intelligence (CI), the international credit rating agency, has affirmed the ratings of five Emirati banks, with a stable outlook. The banks comprise Abu Dhabi Commercial Bank (ADCB), the Commercial Bank …

Banking and Finance

16 August 2020 09:57 AM Invest Bank sees 24% lower losses in H1-20

Abu Dhabi – Mubasher: The net losses of Invest Bank decreased by 24% to AED 136.12 million in the first half (H1) of 2020 from AED 179.65 million in the corresponding half of 2019. The bank's net interest income declined to AED 62.54 million in …

Financial Results

8 July 2020 11:22 AM Invest Bank suffers AED 99m losses in Q1-20

Abu Dhabi – Mubasher: Invest Bank reported AED 99.49 million worth of losses for the first quarter (Q1) of 2020, down from AED 105.91 million in the corresponding period a year earlier. Total operating income came at AED 74.77 million for the …

Banking and Finance

15 June 2020 10:40 AM Invest Bank's accumulated losses reach AED 2.2bn

Abu Dhabi – Mubasher: Invest Bank incurred AED 2.2 billion accumulated losses in 2019, representing 70% of its capital, according to the bank's disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday. The accumulated losses were driven by …

Financial Results

1 April 2020 10:38 AM Invest Bank reports 61% lower losses in 2019

Abu Dhabi – Mubasher: The net losses of Invest Bank plunged by 61% year-on-year (YoY) to AED 579 million in 2019 from AED 1.47 billion in 2018. The decrease in net losses is attributed to a decline in operating expenses and impairment …

Banking and Finance

11 December 2019 03:44 PM Invest Bank sells 151m shares of RAK Cement

Abu Dhabi – Mubasher: Invest Bank, listed on the Abu Dhabi Securities Exchange (ADX), has sold 150.9 million shares of Ras Al Khaimah Cement Company (RAK Cement) on behalf of A&K International Investment Company.      The sold shares represent …

Company News

30 October 2019 03:29 PM Invest Bank’s accumulated loss hits AED 1.86bn in Q3-19

Abu Dhabi – Mubasher: Invest Bank’s accumulated loss reached AED 1.86 billion at the end of the third quarter of 2019. The bank’s accumulated loss-to-capital ratio recorded 59%, according to a bourse statement released on Wednesday. Invest Bank’s …

Banking and Finance

29 October 2019 04:38 PM Invest Bank reports AED 49m loss in Q3-19

Abu Dhabi – Mubasher: Invest Bank posted a 55.6% year-on-year loss decline during the third quarter of 2019, according to a bourse statement released on Tuesday. The bank’s loss reached AED 48.9 million in Q3-19, compared to AED 110.2 million in …

Banking and Finance

21 August 2019 11:42 AM Invest Bank proposes stock trading resumption on ADX

Abu Dhabi – Mubasher: Invest Bank announced it has submitted a proposal to the Securities and Commodities Authority (SCA) to resume stock trading. The bank is now committed to the applicable regulation regarding this matter, according to a filing …

Banking and Finance

7 August 2019 00:07 PM Invest Bank incurs AED 180m loss in H1

Abu Dhabi – Mubasher: Invest Bank, listed on the Abu Dhabi Securities Exchange (ADX), has suffered losses of AED 179.65 million for the first half of 2019, versus AED 71.82 million in H1-18. Loss per share (LPS) stood at AED 0.06 in H1-19, …

Financial Results

14 May 2019 01:09 PM Invest Bank’s FY18 loss widens

Abu Dhabi – Mubasher: Invest Bank has suffered losses of AED 1.47 billion for the full-year 2018, against a loss of AED 277.74 million in 2017. Loss per share (LPS) stood at AED 0.927 last year, compared to AED 0.175 in 2017, the  Sharjah-based …

Banking and Finance

26 March 2019 04:16 PM Invest Bank to issue 1.952bn shrs for capital hike

Abu Dhabi – Mubasher: Invest Bank announced that its general assembly will approve several decisions in the coming meeting that will be held on Wednesday, 10 April. The general assembly meeting will greenlight the entry of the government of …

Corporate Actions

27 August 2018 01:45 PM InvestBank’s CEO to leave office next month

Abu Dhabi – Mubasher: InvestBank’s CEO Sami Farhat has resigned after a long period of service. The decision will be effective on 13 September, the bank said, adding that a new CEO will be named soon, according to a bourse statement released on …

Management Decisions

2 May 2018 01:15 PM Moody's downgrades Invest bank's long-term deposit

Abu Dhabi – Mubasher: Moody's Investors Service has downgraded Invest bank's long-term deposit ratings to Ba1 from Baa3 and adjusted the bank’s baseline credit assessment (BCA) to ba3 from ba2. The international rating agency also downgraded …

Ratings

11 March 2018 00:49 PM Invest Bank turns unprofitable in Q4-17

Abu Dhabi – Mubasher: Invest Bank’s financial results on Sunday showed that the UAE-based bank swung to a loss in the fourth quarter of 2017.   Losses reached AED 504 million in Q4-17, compared to profits worth AED 38.4 million in the same period …

Financial Results

1 March 2018 06:52 PM Invest Bank acquires stake in RAK Cement

Abu Dhabi – Mubasher: Invest Bank on Thursday announced acquiring a stake in Ras Al Khaimah Cement Company (RAK Cement). The acquisition, which involved 155 million shares, was done by the bank on behalf of A & K International Investment LLC, …

Companies Investments

18 December 2017 03:19 PM ADX-listed Invest Bank, Al Ramz Capital ink liquidity provision deal

Abu Dhabi - Mubasher: Sharjah's Invest Bank and Al Ramz Capital on Monday signed a liquidity provision agreement under which Al Ramz Capital has been appointed as a Liquidity Provider (LP) for Invest Bank’s shares listed on the Abu Dhabi …

Macroeconomics

23 November 2017 10:32 AM Bank of Sharjah, Invest Bank negotiate merger

Abu Dhabi – Mubasher: The Abu Dhabi securities Exchange (ADX) listed Bank of Sharjah and Invest Bank are in talks over a potential merger, an informed source told Reuters on Thursday. The potential deal will form a mega institution with total …

Mergers and Acquisitions