AJIB completes acquisition of Standard Chartered Bank in Jordan

(Photo: Arab Jordan Investment Bank)
AMMAN — The Arab Jordan Investment Bank (AJIB) has successfully completed all necessary procedures to transfer its banking operations to Standard Chartered bank and its branches in the Kingdom. AJIB released a statement on Sunday revealing that the acquisition process was carried out seamlessly in under 5 months.اضافة اعلان

This move grants Standard Chartered customers in Jordan a variety of advanced banking solutions and electronic products offered by AJIB. In addition, they can benefit from investment and private banking services, a large network of branches and ATMs, the presence of the bank in Cyprus, Qatar, and the United Kingdom, and brokerage and financial leasing services provided by AJIB's subsidiaries, Jordan News Agency, Petra reported.

AJIB chairman Hani Al-Qadi added that they have a strong track record in acquisitions, with the most recent being the acquisition of the banking operations of National Bank of Kuwait - Jordan last year. This was preceded by the acquisition of the banking operations of HSBC Bank in Jordan in 2014, which was the largest foreign bank in the Kingdom at that time.

The CEO of Standard Chartered Africa and Middle East, Sunil Kaushal affirmed that Standard Chartered will continue to function as a bridge for international capital flows to the Jordanian market.

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