AMMAN — In an extraordinary
meeting held virtually on Wednesday, Capital Bank's General Assembly approved
the Board of Directors' recommendation to raise the bank's capital through
issuing new shares in favor of the Public Investment Fund (PIF) as a strategic investor, the bank
said in a statement.
اضافة اعلان
It said the meeting was presided
over by the Chairman of the Board of Directors of Capital Bank Group, Bassem Khalil Al-Salem, in the presence of Group CEO Dawod
Al-Ghoul and 86.9 percent of the bank’s shareholders.
Salem described the agreement —
which will “see PIF purchasing 23.97 percent of the Group’s capital at an
investment value of JD131.2 million — as one of the most significant
transactions conducted by the banking sector in the region, and one that
reflects positively on Capital Bank's long-term position and financial
prospects,” according to the statement.
Salem also stated that 63 million
shares will be issued for the benefit of PIF upon completion of the deal, which
in turn will raise the Group shareholders’ equity to exceed JD600 million.
Salem also stressed the significance
of this strategic investment as a testament to Capital Bank’s solid reputation
in the region.
He asserted that, despite the
capital increase, Capital Bank is still able to achieve double-digit returns to
shareholders through its ambitious expansion and investment plans.
He underscored that this deal “is a
manifestation of greater confidence in Capital Bank Group, which has a proven
track record of continued, sustainable growth in the Jordanian banking sector”.
The bank, he added, has historically
been able to not only weather enormous challenges but to transform them into
worthy growth opportunities, even during the most challenging circumstances
recently faced by Jordan and the world at large.
During his opening statement, Salem
cited some of Capital Bank’s key achievements over the past two years, which
included acquiring two of the most prominent foreign banks operating in Jordan
and Iraq, Bank Audi and Société Générale de Banque Jordanie.
The Group had also launched its
digital bank - Blink, in addition to issuing the first $100 million perpetual
AT1 bond in Jordan.
Read more Business
Jordan News
.jpg)
.jpg)
