Capital Bank’s Total Assets Grows 45% to JD 4 Billion

Capital Bank also saw a 41.7% increase in net facilities offered to customers in the first nine months of this year, reaching around JD 2 billion, from JD 1.4 billion at the end of the previous year, while that customer deposits increased 48.3% to reach JD 2.5 billion at the end of September. Net interest income amounted to JD 72.9 million, compared to JD 50.6 million at the end of September 2020, registering an increase of 44%. Also in the first nine months of the year, return on equity amounted to 13.8% of net profits, excluding non-recurring profits.

Al-Salem went on to speak of the continued achievements of Capital Bank Group, including the National Bank of Iraq and Capital Investments, further strengthening the group’s leadership position in the local and regional banking sector.

Al-Salem said the National Bank of Iraq, after receiving approval from the Saudi Council of Ministers to open a branch in the Kingdom of Saudi Arabia and the appointment of Yazeed AbuNayyan as managing director, will work to support and strengthen the commercial relations between Saudi Arabia, Iraq and Jordan by forging new banking relationships with leading Saudi, Iraqi and Jordanian companies and companies, an approach which is in line with the strategy regional expansion of the group.

Al Salem added that the NBI branch in Saudi Arabia will provide great added value to Saudi and Iraqi businesses, by facilitating the sending and receiving of internal and external transfers, providing credit facilities and providing financing services. trade, all thanks to the extensive network of correspondent banks that it deals with as part of the Capital Bank Group, which serves as NBI’s gateway to regional economies.

Al-Salem added that Capital Investments continued to deliver positive results, with the value of its assets under management rising to $ 438 million at the end of the third quarter of 2021.

Speaking of the latest financial results, Capital Bank CEO Dawod Al Ghoul said, “The strong financial performance and positive results of the bank reflect our constant focus on improving our customer experience. We continue to invest in the development and improvement of our banking solutions, products and services while simultaneously developing innovative digital solutions that increase the level of satisfaction of our growing customer base. “

Al-Ghoul added that the bank is completing preparations to launch the integrated digital bank NeoBank in early 2022, which will provide its services to the Jordanian and Iraqi markets through an advanced digital platform that uses cutting-edge technologies. This will provide a solid foundation for delivering a wider generation of advanced digital products and services to individuals as well as small and medium-sized businesses in both countries, which will have a significant impact on the transformation towards a digital economy in the region.

According to Al-Ghoul, NeoBank will be the first integrated digital bank to offer a complete banking platform to its customers, providing advanced banking services that include opening new accounts and executing banking transactions with more than efficiency and ease. The bank will offer customers access to their accounts through their smartphones, providing them with all the digital and financial tools needed to manage their finances and fully control their financial decisions.

Capital Bank also continued its strong support for the SME sector, receiving a $ 75 million loan from Proparco, the investment subsidiary of the French Development Agency (AFD) and the German Investment Agency. and development (DEG), to finance the activities of small and medium-sized enterprises in Jordan. According to Capital Bank, the loan will be used to finance and develop its SME portfolio, with particular emphasis on projects led by women, start-ups, FinTechs, youth-owned businesses and SMEs located outside from Amman.


About the Capital Bank Group

Capital Bank Group is considered to be one of the leading financial institutions operating in the Jordanian and regional markets, with assets of JOD 4 billion, while the total equity of its shareholders is around JOD 400 million.

The Capital Bank group includes; Capital Bank, which since its inception in 1995, has grown to become one of Jordan’s leading financial institutions, providing the Jordanian market with a comprehensive set of commercial and investment banking services and solutions tailored to the needs of individual and corporate clients.

In 2005, Capital Bank (Jordan) purchased majority shares of the National Bank of Iraq (61.85%), which enabled NBI to develop its products and services, strengthen its presence and improve the financial inclusion at the country level, to support export activities and to provide all services to Jordanian companies operating in Iraq. As for Capital Investments, it is a 100% subsidiary of Capital Bank created in 2006, and offers specialized investment banking services to its clients through its offices in Jordan and the United Arab Emirates / International Financial Center of Dubai (DIFC).

Before the end of 2020, in order to carry out its expansion plans, the Capital Bank group acquired all of the activities of the Lebanese bank Audi in Jordan and Iraq.

© Press release 2021