Abu Dhabi-Mubasher: Invest Bank turned to losses of AED 18.6 million in the fourth quarter of 2015, against profits of AED 90 million in the same quarter of 2014.
The bank’s losses are attributed to a rise in operating expenses, according to a bourse filing on Thursday.
In the fiscal year 2015, the bank declined 30% to AED 252.2 million from AED 360.09 million in the fiscal year 2014.
The annual profit decline also resulted from an increase in operating expenses to AED 460 million in FY15, compared to AED 305 million.
