Investbank, a leading bank in Jordan, said its net profit for the first quarter after tax soared to JD6.66 million ($9.39 million) from JD3.07 million during the same period last year.

The Amman-based bank said its total equity and liabilities increased from JD691.7 million last year to JD725.3 million by the end of 2012 first quarter posting a growth rate of 4.85 per cent.

Commenting on the results, chairman Bisher Jardaneh said:'Investbank has achieved an outstanding increase in its profit during the first quarter of 2012. This great achievement is a deep reflection of the bank's success in executing on its strategy which was built off of a solid vision.'

'The bank’s aim of rising with innovation will constantly provide relevant products and services to our valuable clients,' he added.-TradeArabia News Service