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Capital Bank intends to acquire branches of Bank Audi in Iraq and Jordan

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Capital Bank intends to acquire branches of Bank Audi in Iraq and Jordan Empty Capital Bank intends to acquire branches of Bank Audi in Iraq and Jordan

Post by RamblerNash Tue Sep 15, 2020 10:25 pm

Monday 14, September 2020 21:52

Amman / NINA / Capital Bank operating in the Jordanian and Iraqi markets signed a non-binding and exclusive agreement / letter of intent to acquire the banking business of the branches of the Lebanese Bank Audi in Iraq and Jordan and purchase its assets and liabilities.

Capital Bank said in a statement sent to the Jordan Securities Commission today that it had obtained the initial approval for the acquisition from the Central Bank of Jordan and the Central Bank of Iraq.

According to the disclosure, Capital Bank will prepare a "negligent" study of all aspects related to the deal, and upon the outcome of that study, the Securities Commission will be informed of the developments and developments.

The CEO of Capital Bank, Dawood Al Ghoul, confirmed that the bank seeks to search for the best opportunities to enhance its position in the Jordanian and Iraqi markets, and to enhance the balance of its shareholders, explaining that the intention to acquire the banking business of Bank Audi in Jordan and Iraq will reflect positively on the shareholders.

Capital Bank provides its services in the Iraqi market through its ownership of about 72% of the capital of the National Bank of Iraq, which amounts to $ 210 million, in addition to contributing to its administrative control rights, so that it is the only Jordanian bank that serves in the markets of Jordan and Iraq together.

https://ninanews.com/Website/News/Details?key=856541

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