Capital Bank (Jordan) Explained

Capital Bank
Type:Private
Traded As:Capital Bank
Founded:1995
Hq Location:Amman, Jordan
Area Served:Jordan, Iraq, KSA, UAE
Products:Retail and Individual Banking products and solutions
Revenue:JOD 346.9 million
Net Income:JOD 106.6 million
Assets:JOD 7.6 billion
Equity:JOD 728 million
Num Employees:2,400
Subsid:National Bank of Iraq (NBI), Capital Invest, Blink
Website:Capitalbank.jo

The Capital Bank of Jordan (CBoJ) commonly known as Capital Bank, is a private sector bank operating in Jordan and Iraq. Established in 1995 as Export & Finance Bank,[1] the bank sells a range of products and services across retail and corporate banking divisions. It is described by independent experts as "a boutique bank focused on corporate clients", and has a separate division for SME lending.[2] Capital Bank owns a majority share (62%) in the National Bank of Iraq (NBI). [3]

As of September 2016 the bank had JOD1,964mn (USD2.77 billion) of consolidated assets and total capital of JOD329mn (USD463mn)

In 2021, Capital Bank Group acquired Bank Audi’s operations in both Jordan and Iraq,[4] and in February 2022, Capital Bank acquired Societe Generale Bank Jordan.[5]

In February 2022, Capital Bank also Launched Blink which is a Digital Neo Bank.[6]

In June 2022, Capital Bank raised its capital by issuing new shares in favor of the Public Investment Fund (PIF) as a strategic investor in Capital Bank with a 23.97% stake[7]

Notes and References

  1. Web site: Capital Bank of Jordan - Ratings Affirmed Outlook for the FSR changed to Negative. Middle East North Africa Financial Network. 21 March 2017.
  2. Book: The Report: Jordan 2012. 2012. Oxford Business Group. 978-1-907065-61-3. 45–.
  3. Web site: "We're the only Jordanian bank with an established presence in Iraq" . The Business Report . 14 November 2018.
  4. Web site: Release . Press . Capital Bank Group finalizes acquisition of Bank Audi in Jordan and Iraq . 2024-02-20 . www.zawya.com . en.
  5. Web site: Jordan's Capital Bank acquires Societe Generale Bank Jordan. Suleiman. Al-Khalidi. February 17, 2022. www.reuters.com.
  6. Web site: Capital Bank of Jordan and Codebase Technologies launch neobank Blink . 2022-02-28 . thepaypers.com . en.
  7. News: June 5, 2022 . Saudi PIF buys 23.97% stake in Jordan's Capital Bank Group . February 20, 2024 . Reuters.