In accordance with BoP’s expansion and spreading plan for 2010, Chairman & General Manager , Mr. Hashim Shawa, declared that BoP purchased a strategic share in Invest Bank - Jordan.
As a leading Palestinian banking institution, Mr. Shawa said, we look forward to expand locally and regionally; we study different financial markets to implement our strategy.
BoP decided expanding from the Hashemite Kingdom of Jordan due to the strong relationship between the two countries; Palestine and Jordan. Mr. Shawa added that this strategic investment will increase investors’ and depositors’ trust in both banks, and will enhance their performance through the joint co-operation to provide the bets services to customers.
Mr. Shawa added, after a careful study of the Jordanian economy and banking sector, all economic indicators has shown a promising growth of this country; we decided purchasing a strategic share in Jordan Invest Bank which serves corporate and retail sectors in Jordan as well as providing investment services for different customer segments. Jordan Invest Bank provides its services to its customers through eight branches spread in major cities in the Hashemite Kingdom of Jordan. The Bank has approved a plan to open more branches in the Hashemite Kingdom of Jordan.
The Investbank is a public shareholding company listed on the Amman Stock Exchange. It has increased its capital to JOD 77.5 million with a market value of JOD 139.5 million and its total assets amounted to JOD 674.5 million, at end of March 2010.