Invest Bank posts profit of Dh288.5m

Sharjah-based Invest Bank has announced the distribution of a 15 per cent cash dividend for its shareholders after it reported a net profit of Dh288.5 million in 2009, a huge jump in profits compared with Dh4.70m in 2008.

Invest Bank's operation income has increased by 10 per cent to Dh495.7m compared with Dh404.4m in 2008.

The total interest income increased to Dh335m in 2009 compared with Dh303.9m in the previous year.

Total asserts also surged to Dh9.7 billion while total liabilities reached Dh7.8bn.

The capital adequacy ratio by the end of 2009 reached 26.13 per cent, which is considerable compared to 11 per cent minimum requirement of the Central Bank, according to the Abu Dhabi Securities Exchange.

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