Latest news with #MohamedObaidRashidAlShamsi
Mid East Info
17 hours ago
- Business
- Mid East Info
Invest Bank Returns to Strong Profitability in H1 2025, Marks Historic Turnaround and Expands Leadership Team
Invest Bank reported financial results for the first half of 2025, with total assets reaching AED 12.3 billion, representing a 14% year-to-date increase and 11% year-on-year growth. Total income for the period reached AED 145.6 million, a 5% year-over-year increase despite challenging interest rate conditions. The Board of Directors elected His Excellency Mohamed Obaid Rashid Al Shamsi as Vice Chairman, who brings over two decades of distinguished banking and governmental sector experience. Sharjah, United Arab Emirates,August 2025 — Invest Bank today announced its financial results for the six-month period ended June 30, 2025, demonstrating strong operational performance and continued balance sheet expansion across all key metrics. The Bank's total assets grew by AED 1.2B year-on-year (+11%), primarily driven by a robust expansion in the loan portfolio (+AED 1.4B, +32%), reflecting initiation of the diversification journey across business segments. Net loans increased by AED 1.4B (+32%), with performing assets (Stage 1 & 2) now constituting 44% of gross loans (December 2024: 37%). The Bank maintains a strong provision coverage ratio of around 38% across the portfolio, with stage 3 loans being fully covered, consistent with its December 2024 position. Customer deposits experienced significant growth of AED 1.3B (+15% YoY), with CASA deposits increasing by AED 141M (+6%) and term deposits expanding by AED 1.2B (+18%). Supporting this growth, the Bank launched two innovative deposit products, iPlus and Cashback deposits, alongside enhanced digital banking solutions. Edris Al Rafi, Chief Executive Officer of Invest Bank, said: 'The Bank's first-half results are a clear reflection of progress. By strengthening our product offering and advancing our strategy, we are building the momentum needed to move forward with confidence and deliver lasting value to our customers and shareholders.' Key financial highlights: H1 2025 Balance sheet growth Operational performance Capital & liquidity strength Total assets: AED 12.3B (+14% YTD, +11% YoY) Total income: AED 145.6M (+5% YoY) Capital adequacy ratio: 25.9% (December 2024: 28.7%) Customer deposits: AED 10.2B (+17% YTD, +15% YoY) Non interest income AED 67.9M (+47% YoY) Eligible liquid assets ratio: 19.4% (Dec'24: 15.6%) Loans & advances: AED 5.7B (+26% YTD, +32% YoY) Loans to deposit ratio: 55.4% (FY'24: 51.5%) Advances to stable resources ratio: 68.7% (December 2024: 68.4%) Additionally, Invest Bank strengthened its leadership team by electing His Excellency Mohamed Obaid Rashid Al Shamsi as Vice Chairman. He brings over two decades of distinguished experience in the banking and governmental sectors, with a focus on business development, performance management, growth strategies, compliance, governance, capital reputation enhancement, and client relations. His expertise extends to operations, change management, and stakeholder engagement, positioning him to contribute significantly to Invest Bank's continued growth trajectory. Commenting on his election, His Excellency Mohamed Obaid Rashid Al Shamsi, Vice Chairman of Invest Bank, said: 'I am honored by the trust the Board has placed in me. At this important stage in Invest Bank's journey, I look forward to working alongside our leadership team to continue building on this positive momentum and guiding the Bank with strength and responsibility.' In line with its customer-focused strategy and commitment to technological advancement, Invest Bank is currently developing a new mobile banking application designed to enhance customer experience, provide scalable solutions, and support diversification. About Invest Bank: Founded in 1975, Invest Bank PSC is a leading public shareholding company, headquartered in Sharjah, UAE. With over four decades of significant presence, Invest Bank has established itself as a reputable entity within the UAE's banking sector, committed to delivering exceptional financial services. In 2019, the Government of Sharjah became a strategic partner, reaffirming the bank's position through commercial investment, with its shares publicly traded on the Abu Dhabi Securities Exchange (ADX). Today, Invest Bank offers a wide array of services including retail banking, corporate banking, and investment services.
Zawya
a day ago
- Business
- Zawya
Invest Bank returns to strong profitability in H1 2025, marks historic turnaround and expands leadership team
Total income for the period reached AED 145.6 million, a 5% year-over-year increase despite challenging interest rate conditions. The Board of Directors elected His Excellency Mohamed Obaid Rashid Al Shamsi as Vice Chairman, who brings over two decades of distinguished banking and governmental sector experience. Sharjah, United Arab Emirates — Invest Bank today announced its financial results for the six-month period ended June 30, 2025, demonstrating strong operational performance and continued balance sheet expansion across all key metrics. The Bank's total assets grew by AED 1.2B year-on-year (+11%), primarily driven by a robust expansion in the loan portfolio (+AED 1.4B, +32%), reflecting initiation of the diversification journey across business segments. Net loans increased by AED 1.4B (+32%), with performing assets (Stage 1 & 2) now constituting 44% of gross loans (December 2024: 37%). The Bank maintains a strong provision coverage ratio of around 38% across the portfolio, with stage 3 loans being fully covered, consistent with its December 2024 position. Customer deposits experienced significant growth of AED 1.3B (+15% YoY), with CASA deposits increasing by AED 141M (+6%) and term deposits expanding by AED 1.2B (+18%). Supporting this growth, the Bank launched two innovative deposit products, iPlus and Cashback deposits, alongside enhanced digital banking solutions. Edris Al Rafi, Chief Executive Officer of Invest Bank, said: "The Bank's first-half results are a clear reflection of progress. By strengthening our product offering and advancing our strategy, we are building the momentum needed to move forward with confidence and deliver lasting value to our customers and shareholders." Key financial highlights: H1 2025 Balance sheet growth Operational performance Capital & liquidity strength Total assets: AED 12.3B (+14% YTD, +11% YoY) Total income: AED 145.6M (+5% YoY) Capital adequacy ratio: 25.9% (December 2024: 28.7%) Customer deposits: AED 10.2B (+17% YTD, +15% YoY) Non interest income AED 67.9M (+47% YoY) Eligible liquid assets ratio: 19.4% (Dec'24: 15.6%) Loans & advances: AED 5.7B (+26% YTD, +32% YoY) Loans to deposit ratio: 55.4% (FY'24: 51.5%) Advances to stable resources ratio: 68.7% (December 2024: 68.4%) Additionally, Invest Bank strengthened its leadership team by electing His Excellency Mohamed Obaid Rashid Al Shamsi as Vice Chairman. He brings over two decades of distinguished experience in the banking and governmental sectors, with a focus on business development, performance management, growth strategies, compliance, governance, capital reputation enhancement, and client relations. His expertise extends to operations, change management, and stakeholder engagement, positioning him to contribute significantly to Invest Bank's continued growth trajectory. Commenting on his election, His Excellency Mohamed Obaid Rashid Al Shamsi, Vice Chairman of Invest Bank, said: "I am honored by the trust the Board has placed in me. At this important stage in Invest Bank's journey, I look forward to working alongside our leadership team to continue building on this positive momentum and guiding the Bank with strength and responsibility." In line with its customer-focused strategy and commitment to technological advancement, Invest Bank is currently developing a new mobile banking application designed to enhance customer experience, provide scalable solutions, and support diversification. About Invest Bank: Founded in 1975, Invest Bank PSC is a leading public shareholding company, headquartered in Sharjah, UAE. With over four decades of significant presence, Invest Bank has established itself as a reputable entity within the UAE's banking sector, committed to delivering exceptional financial services. In 2019, the Government of Sharjah became a strategic partner, reaffirming the bank's position through commercial investment, with its shares publicly traded on the Abu Dhabi Securities Exchange (ADX). Today, Invest Bank offers a wide array of services including retail banking, corporate banking, and investment services.
Sharjah 24
a day ago
- Business
- Sharjah 24
Invest Bank returns to strong profitability in H1 2025
The Bank's total assets grew by AED 1.2B year-on-year (+11%), primarily driven by a robust expansion in the loan portfolio (+AED 1.4B, +32%), reflecting initiation of the diversification journey across business segments. Net loans increased by AED 1.4B (+32%), with performing assets (Stage 1 & 2) now constituting 44% of gross loans (December 2024: 37%). The Bank maintains a strong provision coverage ratio of around 38% across the portfolio, with stage 3 loans being fully covered, consistent with its December 2024 position. Customer deposits experienced significant growth of AED 1.3B (+15% YoY), with CASA deposits increasing by AED 141M (+6%) and term deposits expanding by AED 1.2B (+18%). Supporting this growth, the Bank launched two innovative deposit products, iPlus and Cashback deposits, alongside enhanced digital banking solutions. Edris Al Rafi, Chief Executive Officer of Invest Bank, said: "The Bank's first-half results are a clear reflection of progress. By strengthening our product offering and advancing our strategy, we are building the momentum needed to move forward with confidence and deliver lasting value to our customers and shareholders." Additionally, Invest Bank strengthened its leadership team by electing His Excellency Mohamed Obaid Rashid Al Shamsi as Vice Chairman. He brings over two decades of distinguished experience in the banking and governmental sectors, with a focus on business development, performance management, growth strategies, compliance, governance, capital reputation enhancement, and client relations. His expertise extends to operations, change management, and stakeholder engagement, positioning him to contribute significantly to Invest Bank's continued growth trajectory. Commenting on his election, His Excellency Mohamed Obaid Rashid Al Shamsi, Vice Chairman of Invest Bank, said: "I am honoured by the trust the Board has placed in me. At this important stage in Invest Bank's journey, I look forward to working alongside our leadership team to continue building on this positive momentum and guiding the Bank with strength and responsibility." In line with its customer-focused strategy and commitment to technological advancement, Invest Bank is currently developing a new mobile banking application designed to enhance customer experience, provide scalable solutions, and support diversification.
