The Government of Sharjah transferred 47 billion shares, representing 20.48% of its stake in Invest Bank, to the Sharjah Social Security Fund (SSSF) through an off-market transaction on the Abu Dhabi Securities Exchange (ADX). This transfer reduced the government’s direct shareholding in the Abu Dhabi-listed bank to 70.06%, while SF now holds an 18.04% stake; other shareholders retain 11.9%, Zawya reported.
In 2019, the Sharjah government became a major shareholder of Invest Bank by investing Dh1.11 billion for a 50.07% stake. The stake increased through a rights issue in 2023. The recent transfer to SSSF is part of the government’s strategy to manage its investments and support public entities within the emirate.
Invest Bank has faced challenges in recent years, including high levels of bad loans due to exposure to the construction sector. The Sharjah government’s interventions, including capital injections and restructuring plans, have aimed to stabilise the bank’s financial position and ensure its growth.