Jordan Investment Trust (Jordinvest), a leading provider of merchant and investment services, has posted net profits of JD1,490,036 ($2.1 million) for the first half of 2010, a 189 per cent increase from results during the same period last year.

The overall value of Jordinvest’s debts has decreased by 98 per cent reaching JD152,667 compared to JD8,284,246 in the same period of 2009.

Similarly, Jordinvest’s administrative expenses have also decreased by 39 per cent reaching JD711,470 in comparison to 2009, it said in a statement.

"We are proud of this exceptional financial performance that is the outcome of Jordinvest's competent human capital, in addition to the trust our clients have granted us with, be they individual investors or institutions,” said Ahmad Tantash, chairman and CEO of Jordinvest.

Jordinvest established its operations in the Jordanian market in 1998 as the first Jordanian public shareholding company to offer its clients a variety of integrated investment banking services in domestic, regional and international markets, the statement said. – TradeArabia News Service