Invest bank reduces losses by 38 per cent
- 01 Mar 2021
The Invest Bank branch in Rollah, Sharjah. File
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.
In a disclosure to the Abu Dhabi Securities Exchange, the bank attributed the reduced losses to the decline in impairment provisions compared to the same period in 2019.
The Invest bank also attributed the decline in losses to a drop in operating expenses by 26 per cent, mainly due to a 28 per cent drop in employee expenses compared to 2019.
