yota691 Posted December 29, 2020 Report Share Posted December 29, 2020 Capital Bank buys the assets of the Lebanese "Audi" in Iraq and Jordan One of the branches of the Jordan Capital Bank "Capital Bank" 29 December 2020 02:21 PM Capital Bank EXFB 2.13%0.960.02 Mubasher: Jordan’s Capital Bank ( EXFB ), listed on the Amman Stock Exchange, ended a deal today, Tuesday, to acquire Bank Audi’s assets in Iraq and Jordan. This was confirmed by the Chairman of Capital Bank, according to Reuters news agency, pointing out that the bank aims to diversify and expand its operations with this deal. Al-Salem added that the two parties to the deal agreed not to disclose the value of the deal, and that it had obtained the approval of the Central Bank of Jordan and the Iraqi Central Bank. "This agreement comes in response to Capital Bank's plans to enhance its competitive position and expand its regional and local expansion in Jordan and Iraq," Al-Salem said. The assets of the Capital Bank Group will increase to about 3.7 billion dinars (5.23 billion dollars), to exceed shareholders' equity by 400 million dinars. 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted December 29, 2020 Author Report Share Posted December 29, 2020 Capital Bank Acquires Branches Of "Audi" Bank In Lebanon And Iraq Last updated Dec 29, 2020 Al-Mustaqilah / - Jordan's Capital Bank Group concluded an agreement to acquire the activities of the branches of the Lebanese Bank Audi in Iraq and Jordan, in an effort to diversify its activities and expand its presence in the region. Basem Al-Salem, Chairman of Jordan Capital Bank, told Reuters that both parties agreed not to disclose the value of the deal, which comes after obtaining the necessary approvals from the two central banks in Jordan and Iraq . “The agreement is in line with Capital Bank’s plans to enhance its competitive position. And increase its regional and local expansion in Jordan and Iraq. Al-Salem said that 14 branches of Bank Audi in Jordan and five branches in Iraq will be integrated into the existing Capital Bank network. He added that Capital Bank seeks to expand in Iraq through the majority stake it owns in the National Bank of Iraq, which is 62%. The bank’s assets exceed $ 533 million. The latest acquisition will help Capital Bank, whose shareholders are among the largest industrial and businessmen in Jordan, expand into the SME sector and retail markets. The CEO of Capital Bank, Dawood Muhammad Al-Ghoul, said that all transactions of Bank Audi and its employees will be preserved, and all obligations towards customers with whom Bank Audi units contracted in Iraq and Jordan will be kept without any change. Jordan's Capital Bank Group concluded an agreement to acquire the activities of the branches of the Lebanese Bank Audi in Iraq and Jordan, in an effort to diversify its activities and expand its presence in the region. Basem Al-Salem, Chairman of Jordan Capital Bank, told Reuters that both parties agreed not to disclose the value of the deal, which comes after obtaining the necessary approvals from the two central banks in Jordan and Iraq . “The agreement is in line with Capital Bank’s plans to enhance its competitive position. And increase its regional and local expansion in Jordan and Iraq. Al-Salem said that 14 branches of Bank Audi in Jordan and five branches in Iraq will be integrated into the existing Capital Bank network. He added that Capital Bank seeks to expand in Iraq through the majority stake it owns in the National Bank of Iraq, which is 62%. The bank’s assets exceed $ 533 million. The latest acquisition will help Capital Bank, whose shareholders are among the largest industrial and businessmen in Jordan, expand into the SME sector and retail markets. The CEO of Capital Bank, Dawood Muhammad Al-Ghoul, said that all transactions of Bank Audi and its employees will be preserved, and all obligations towards customers with whom Bank Audi units contracted in Iraq and Jordan will be kept without any change. 1 5 Quote Link to comment Share on other sites More sharing options...
Carrello Posted December 29, 2020 Report Share Posted December 29, 2020 Lots of optimistic news this morning, Yota. Thank you! 2 3 1 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted December 29, 2020 Report Share Posted December 29, 2020 Follow the Bankers >>>> Follow the money 💵 💵 💵 Go RV Go 2021 Go $1:1+ 5 3 4 1 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted December 29, 2020 Report Share Posted December 29, 2020 4 hours ago, Laid Back said: Follow the Bankers >>>> Follow the money 💵 💵 💵 Go RV Go 2021 Go $1:1+ So, are they all just assuming (as we are) that the dinar will RV, or do you think they have actual inside info...? 2 1 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted December 29, 2020 Report Share Posted December 29, 2020 2 hours ago, Half Crazy Runner said: So, are they all just assuming (as we are) that the dinar will RV, or do you think they have actual inside info...? HCR, I believe is to expand its international operations and its competitive position. 4 Quote Link to comment Share on other sites More sharing options...
yota691 Posted December 30, 2020 Author Report Share Posted December 30, 2020 Capital Bank of Jordan agreed to buy the assets of the Lebanese Bank Audi in Jordan and Iraq Banks Economy News _ Baghdad The Chairman of Capital Bank of Jordan said that the group has concluded an agreement to acquire the activities of the branches of the Lebanese Bank Audi in Iraq and Jordan in an effort to diversify its activities and expand its presence in the region. The Chairman of Jordan’s Capital Bank Group, Bassem Al-Salem, told Reuters that the agreement, in which both parties agreed not to disclose its value, comes after obtaining the necessary approvals from the two central banks in Jordan and Iraq. Number of observations 75 Date added 12/29/2020 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted December 30, 2020 Report Share Posted December 30, 2020 19 hours ago, Laid Back said: Follow the Bankers >>>> Follow the money 💵 💵 💵 Go RV Go 2021 Go $1:1+ Yep invest in banks.....more stocks required lol Quote Link to comment Share on other sites More sharing options...
Haggisbasher Posted December 30, 2020 Report Share Posted December 30, 2020 Pity it was not Warka Bank of Samco. Quote Link to comment Share on other sites More sharing options...
Carrello Posted December 30, 2020 Report Share Posted December 30, 2020 NASDAQ Report Jordan's Capital Bank buys assets from Lebanon's Bank Audi CONTRIBUTOR Suleiman Al-Khamani CREDIT: REUTERS/ALI HASHISHO.AMMAN, Dec 29 (Reuters) - Jordan's Capital Bank Group finalised a deal on Tuesday to acquire top Lebanese lender Bank Audi's AUDI.BY businesses in Iraq and Jordan in move to diversify and expand its operations, the bank's chairman said. Both parties agreed not to disclose the value of the deal, which has secured the necessary approvals from Jordan's Central Bank and the Central Bank of Iraq, Capital Bank Group Chairman Bassem Al-Salem told Reuters. "This agreement responds to Capital Bank's plans to enhance its competitive position and expand its regional and local expansion in Jordan and Iraq," Al-Salem said. It will increase Amman-based Capital Bank Group's assets by about a third to around 3.7 billion Jordanian dinars ($5.23 billion). Shareholders equity will exceed 400 million dinars. Bank Audi expanded in Jordan and Iraq as part of an aggressive regional push before a major financial crisis hit Lebanon and paralysed its banks, forcing some of them to try to divest assets. https://www.nasdaq.com/articles/jordans-capital-bank-buys-assets-from-lebanons-bank-audi-2020-12-29 5 1 Quote Link to comment Share on other sites More sharing options...
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