{"id":219584,"date":"2022-02-18T18:11:38","date_gmt":"2022-02-18T18:11:38","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=219584"},"modified":"2022-02-18T18:12:12","modified_gmt":"2022-02-18T18:12:12","slug":"capital-bank-jordan","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/capital-bank-jordan\/","title":{"rendered":"Capital Bank continues to expand in Jordan, acquires Soci\u00e9t\u00e9 G\u00e9n\u00e9rale"},"content":{"rendered":"

Amman, (Business News Report)|| <\/span><\/strong>Capital Bank continues to expand in the market of Jordan, through recent acquisitions.<\/p>\n

The head of Capital Bank, Bassem Al-Salem, said that the bank has acquired 100% of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan, to expand its business locally and regionally.<\/p>\n

Capital Bank’s acquisition is the second since the beginning of this year.<\/p>\n

T bank will acquire the ownership of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan, which is a fully licensed bank in Jordan, as well as the financial brokerage company it owns. Al-Salem did not disclose the value of the deal.<\/p>\n

He also added, “This acquisition will help support the bank’s intentions to improve its competitive position in the local market and proceed with its expansion plans in the region.”<\/p>\n

Capital Bank’s board of directors approved in December a mandatory offer to acquire Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan, of which Soci\u00e9t\u00e9 G\u00e9n\u00e9rale in Lebanon owns 87.7%, according to the latest information on Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan’s website.<\/p>\n

Last year, Capital Bank, one of Jordan’s largest banks, completed the acquisition of Lebanese Bank Audi’s activities in Iraq and Jordan in a move aimed at diversifying and expanding its operations in the region.<\/p>\n

Al-Salem stated that the bank also aims to expand in Iraq by purchasing a 62% majority stake in the National Bank of Iraq<\/a>, a bank that provides services to individuals and has nearly doubled its assets within a year to $1.1 billion.<\/p>\n

The bank also received approval from the Saudi government to open a branch of the National Bank of Iraq in Saudi Arabia, which will enhance financial transactions between the three neighboring countries.<\/p>\n

Al-Salem pointed out that Capital Bank’s assets, whose shareholders include major companies and industrialists in Jordan, increased 45% in less than a year to about six billion dinars ($8.5 billion).<\/p>\n

The bank expanded in the past years to serve small and medium companies and individuals.<\/p>\n

Meanwhile, the deal will also include the acquisition of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan Brokerage, a subsidiary of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Bank, and the inclusion of its clients with the Capital Bank’s client base.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amman, (Business News Report)|| Capital Bank continues to expand in the market of Jordan, through recent acquisitions. The head of Capital Bank, Bassem Al-Salem, said that the bank has acquired 100% of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan, to expand its business locally and regionally. Capital Bank’s acquisition is the second since the beginning of this year. T […]<\/p>\n","protected":false},"author":4,"featured_media":219585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[7614,278,800,7615],"class_list":["post-219584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-capital-bank","tag-featured","tag-jordan","tag-societe-generale"],"yoast_head":"\nCapital Bank continues to expand in Jordan, acquires Soci\u00e9t\u00e9 G\u00e9n\u00e9rale<\/title>\n<meta name=\"description\" content=\"BNReport| Capital Bank continues to expand in the market of Jordan, through acquiring 100% of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Jordan\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/capital-bank-jordan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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