Arab Jordan Investment Bank (AJIB) completes its acquisition of the National Bank of Kuwait (NBK) banking operations in Jordan


Arab Jordan Investment Bank (AJIB) completes its acquisition of the National Bank of Kuwait (NBK) banking operations in Jordan

May 30, 2022

Arab Jordan Investment Bank - AJIB announced that it had completed all the procedures for transferring the banking operations of National Bank of Kuwait - NBK in Jordan following the close of business on Wednesday, May 25th, 2022.

The Chairman of the Board of Directors of AJIB, Hani Al-Qadi, indicated that the process of acquiring the banking operations of NBK Jordan went smoothly and was completed in record time that did not take more than three months from the date of signing the agreement with NBK to acquire its business in Jordan.

Al-Qadi welcomed former National Bank of Kuwait - Jordan customers to Arab Jordan Investment Bank, stressing the bank's commitment to provide comprehensive and advanced banking products and services that meet all their banking needs.

Al-Qadi further explained that this acquisition falls within AJIB’s expansion strategy to grow its banking business market share in Jordan, which accelerated during the past decade, following the bank’s landmark acquisition of HSBC’s banking operations in Jordan in 2014, which was at the time the largest foreign bank operating in the Jordanian market. He explained that AJIB’s ability and experience in acquisitions and business transfer procedures, in addition to the bank’s strong financial position, contributed to the success of this acquisition, which will enhance the bank's position in the Jordanian banking sector.

It should be noted that the former NBK Jordan customers will enjoy comprehensive and innovative services through an advanced suite of banking products and solutions for retail, corporate, investment and private banking services, as well as an extensive network of branches, offices, and ATMs strategically located in major population centers and commercial areas around Jordan. AJIB also provides a wide range of the most advanced electronic banking services with exceptional features that allow customers to manage their accounts securely and easily and conduct various financial transactions around the clock from anywhere and at any time through AJIB Online or through the mobile application AJIB Mobile.

In addition, former NBK Jordan customers can now benefit from the banking services offered by AJIB internationally, through its branch in Limassol - Cyprus which is licensed to serve customers and to conduct banking operations inside or outside Cyprus and the European Union. They can also enjoy the services offered by Arab Jordan Investment Bank - Qatar (L.L.C.), which serves as the bank’s focal point in Qatar and the GCC region, in addition to the services offered by Jordan International Bank (JIB), which is an affiliate bank of AJIB based in London - United Kingdom and provides banking services for private clients and companies in or outside the UK.