Capital Bank Group signs the final agreement to complete the acquisition of the banking business of Bank Audi in Jordan and Iraq

Capital Bank Group signs the final agreement to complete the acquisition of the banking business of Bank Audi in Jordan and Iraq

 11 March - Al-Rai Newspaper






Capital Bank Group signs the final agreement to complete the acquisition of the banking business of Bank Audi in Jordan and Iraq 11 March - Al-Rai Newspaper


Amman - opinion

 The Capital Bank Group announced today, Thursday, the completion of its acquisition of the assets and liabilities of Bank Audi branches, and the transfer of all operations of the latter and its branches operating in Jordan and Iraq to the Capital Bank Group, in accordance with the final agreement recently signed between the two parties. 

Based on the acquisition process, the former Bank Audi branches and its affiliated ATMs in Jordan will be available to customers under the brand of "Capital Bank" as of Saturday 3/3/2021 for the branches located in the malls and on Sunday 3/14/2021 for the rest of the branches. Where all the information on the details of the clients' accounts and their banking products were transferred automatically to Capital Bank, with the credit card services and the payment cards granted to them remaining available for use as usual after the completion of the transition phase.

 Bank Audi has also completed all its operations in all its 5 branches in Iraq and transferred them to the National Bank of Iraq at the end of the Thursday 11/03/2021 working day, where all the information on the details of customers' accounts and their banking products was automatically transferred to the National Bank of Iraq. The credit and debit cards granted to them are available for use as normal. 

The Chairman of the Capital Bank Group, Basem Khalil Al-Salem, confirmed that the acquisition comes within the framework of the Capital Bank Group's expansion strategy and its ambitious plans to strengthen its competitive position, especially since the group has witnessed continuous growth in its budget over the past years, indicating that according to the deal, the number of Capital Bank branches in Jordan will increase. To 28 branches, and the total number of branches of the National Bank of Iraq will increase to 18 branches, indicating that innovative digital banking services and products will be provided, in order to achieve the highest levels of satisfaction among the bank's growing customer base of individuals and companies, while all contracts and transactions previously committed to Bank Audi in Jordan towards its customers without any change, as well as to the cadres and employees working in Bank Audi branches under the umbrella of the Capital Bank Group.


 Al-Salem expressed his appreciation for the efforts made by the Governor of the Central Bank of Jordan, His Excellency Dr. Ziad Fariz and his deputy, Dr. Maher Sheikh Hassan, and the cadres of the Central Bank for their support and assistance to ensure the success of the acquisition process. He also thanked the work teams from Bank Audi and Capital Bank in Jordan and Iraq that worked hard to complete all activities related to the process. Acquisition in record time. 


It should be noted that Bank Audi’s assets in Jordan and Iraq amounted to approximately 650 million Jordanian dinars by the end of December 2020, and this acquisition will raise the value of Capital Bank Group’s assets to 3.5 billion Jordanian dinars and increase the group’s shareholders ’equity to nearly 400 million dinars.



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