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Invest Bank’s losses shrink 9% in H1-22; accumulated losses announced

Invest Bank’s losses shrink 9% in H1-22; accumulated losses announced
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Invest Bank
INVESTB
2.27% 0.45 0.01

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 to the income statements on Wednesday.

The clients’ deposits have reached AED 7.92 billion at the end of H1-22, while the total assets amounted to AED 8.71 billion.

In the second quarter (Q2) of 2022, the net losses plummeted to AED 27.12 million from AED 45.31 million in Q2-21.

The loss per share stood at AED 0.009 in Q2-22, versus AED 0.014 in Q2-21.

Meanwhile, the UAE-based lender registered accumulated losses worth AED 2.10 billion as of H1-22, representing 66% of the capital.