Bank al Etihad to acquire Investbank

Bank al Etihad and banking solutions supplier Investbank person announced Jordan’s largest banking merger.

Both the companies’ respective boards of directors person approved a strategical merger nether which Bank al Etihad is acceptable to get 100% of Investbank’s stock capital.

This acquisition volition beryllium executed done a superior summation by Bank al Etihad, wherever recently issued shares volition beryllium allocated to Investbank shareholders successful speech for their afloat ownership transfer.

The merger volition effect successful Investbank being integrated into Bank al Etihad, which volition stay the surviving entity, successful compliance with applicable ineligible and regulatory requirements.

Upon completion, Bank al Etihad's superior is expected to emergence to Jd325.2m ($458.6m), with full equity projected to scope astir Jd1bn ($1.41bn).

The combined full assets volition attack Jd11bn ($15.5bn), positioning Bank al Etihad arsenic 1 of the largest banking institutions successful the country.

Both banks person committed to retaining their employees, acknowledging the value of quality superior successful achieving occurrence and maintaining stability. They purpose to make a supportive enactment situation that enables professionals to excel successful this caller phase.

Basem Salfiti volition proceed arsenic president of the board, portion Fahmi Abu Khadra is acceptable to go vice chairman, pending committee approval.

Muntaser Dawwas is expected to beryllium appointed arsenic CEO, taxable to support from the Central Bank of Jordan. Her excellency Nadia Al-Saeed volition stay successful her presumption until the modulation is finalised.

The merger volition beryllium presented to the wide assemblies of some banks during bonzer meetings scheduled for 25 June 2025.

This volition people the opening of the ceremonial procedures, pending the indispensable regulatory approvals from the Central Bank of Jordan, the Ministry of Industry and Trade / Companies Control Department, and the Jordan Securities Commission.

In 2023, Bank al Etihad partnered with Swiss fintech NetGuardians to heighten its fraud prevention capabilities by implementing NetGuardians' AI-driven outgo fraud prevention solution.

"Bank al Etihad to get Investbank" was primitively created and published by Retail Banker International, a GlobalData owned brand.

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