The Invest bank reduced its losses by 38 per cent to Dhs356.3 million by the end of 2020, compared to losses of Dhs579.4 million during the same period in 2019.
Invest Bank announced on Wednesday that Ahmad Abu Eideh has been appointed as the Chief Executive Officer. Ahmad is a seasoned corporate and investment banker with 30 years of experience in regional and international banks, including ABN AMRO, HSBC and Standard Chartered. Most recently, he was Chief Executive Officer of United Arab Bank.
Assets of national banks accounted for 87.8 per cent of gross banking sector's assets of Dhs3.442 trillion by end of last May, against 12.2 per cent for foreign banks.
Invest Bank’s Extraordinary General Assembly Meeting (EGM) was held under the chairmanship of Sheikh Sultan Bin Ahmed Bin Sultan Al Qasimi, Chairman of the Board of Directors of Invest Bank.