Invest Bank Company Profile

Background

Invest Bank was established in 1975 as a public shareholding company in the Emirate of Sharjah, United Arab Emirates. Its shares are publicly traded on the Abu Dhabi Securities Exchange (ADX). Over the years, the bank has significantly contributed to the economic development of Sharjah and the broader UAE, building a solid reputation and fostering strong relationships with both corporate and retail clients. Invest Bank offers a comprehensive range of banking services, emphasizing customer-driven solutions under the guidance of a highly qualified and specialized team. In 2019, the Government of Sharjah became a strategic partner by investing AED 1.115 billion, acquiring a 50.07% ownership stake in the bank. This investment was made on a commercial basis, aiming to realize long-term value from Invest Bank's profitability and standing as a commercially strong institution with a loyal customer base across the UAE.

Key Strategic Focus

Invest Bank's strategic focus centers on providing a wide array of financial products and services tailored to meet the diverse needs of its clientele. The bank specializes in both corporate and retail banking, offering solutions such as current and savings accounts, time deposits, personal and mortgage loans, auto loans, and credit cards. On the corporate front, Invest Bank provides services including overdraft accounts, discounted promissory notes, syndicated loans, and treasury services. The bank targets a broad market, catering to individual customers, small and medium-sized enterprises (SMEs), and large corporations, with a particular emphasis on the UAE market.

Financials and Funding

As of December 31, 2024, Invest Bank reported annual revenue of JOD 76.15 million, marking a 12% growth compared to the previous year. The bank's net income for the same period was JOD 26.51 million, reflecting a 7.65% increase year-over-year. The return on assets (ROA) stood at 1.5%, while the return on equity (ROE) was 10.6%. Total assets reached JOD 1.4 billion, with total equity amounting to JOD 196 million. In 2019, the Government of Sharjah invested AED 1.115 billion in Invest Bank, acquiring a 50.07% ownership stake, aiming to realize long-term value from the bank's underlying profitability and standing as a commercially strong institution.

Technological Platform and Innovation

Invest Bank is committed to enhancing its technological capabilities to meet evolving client demands. The bank offers personal internet banking, allowing customers to manage, transact, and control their finances remotely. Additionally, Invest Bank has introduced WhatsApp banking, enabling clients to access a host of banking services conveniently through the messaging platform. These initiatives reflect the bank's dedication to integrating innovative technologies to improve customer experience and operational efficiency.

Leadership Team

H.H. Sheikh Sultan bin Ahmed Al Qasimi: Deputy Ruler of Sharjah & Chairman of Invest Bank.

Edris Mohammad Rafi Mohammad Saeed Al Rafi: Chief Executive Officer.

Helmi Abdullah: Chief Wholesale Banking Officer.

Maha Al Banna: Acting Head of Retail Banking.

Abdulhakim Kanan: Chief Internal Auditor.

Ismail Sanad: Head of Legal.

Jamil El Halabi: Chief Financial Officer.

Rehab Khalaf: Chief Human Capital.

Yousef Nawres: Head of Financial Markets.

Tony Crasta: Chief Credit Officer.

These leaders bring extensive experience and expertise to their respective roles, contributing to the bank's strategic direction and operational success.

Competitor Profile

Market Insights and Dynamics

The UAE banking sector is highly competitive, characterized by a mix of local and international banks offering a wide range of financial services. The market is marked by rapid technological advancements, increasing customer expectations for digital services, and regulatory changes aimed at enhancing financial stability and consumer protection.

Competitor Analysis

Invest Bank faces competition from several key players in the UAE banking industry, including:

Dubai Islamic Bank: A leading Islamic bank offering Sharia-compliant products and services.

RAKBANK: Known for its focus on personal and business banking solutions.

National Bank of Abu Dhabi: Provides a comprehensive range of banking services with a strong presence in the region.

Abu Dhabi Commercial Bank: Offers diverse financial products catering to various customer segments.

Sharjah Islamic Bank: Specializes in Islamic banking services within the UAE.

These competitors have established strong market positions through extensive branch networks, diverse product offerings, and significant investments in digital banking technologies.

Strategic Collaborations and Partnerships

In 2019, Invest Bank entered into a strategic partnership with the Government of Sharjah, which invested AED 1.115 billion, acquiring a 50.07% ownership stake. This partnership aims to strengthen the bank's financial position and support its long-term growth objectives.

Operational Insights

Invest Bank's strategic considerations include enhancing its technological infrastructure to offer innovative digital banking services, expanding its product portfolio to meet diverse customer needs, and strengthening its market position through strategic partnerships. The bank's commitment to customer-centric solutions and operational efficiency serves as a distinct competitive advantage in the dynamic UAE banking sector.