RSS   Newsletter   Contact   Advertise with us
Post Online Media

Jordan's AJIB to buy HSBC's business

Arab Jordan Investment BankArab Jordan Investment Bank (AJIB) agreed to acquire HSBC Bank Middle East Limited's banking business in Jordan.

Arab Jordan Investment Bank (AJIB) has entered into an agreement to acquire HSBC Bank Middle East Limited's banking business in Jordan. At September 30, 2013, that Business comprised four branches with gross assets of approximately $1.2 billion. The transaction is expected to be completed during the first half of 2014.

Hani AL-Qadi, GM/CEO of AJIB, said "We are pleased to have signed this agreement today which has full regulatory backing. This acquisition is part of AJIB’s growth strategy, and the business acquired well complements our existing product line and consolidates our market share in the Jordanian market.

"We look forward to working with HSBC’s local team over the next few months to ensure a smooth transition with minimal impact on clients and employees."




More inside POST
 
 

We use cookies to ensure that we give you the best experience on our website. Please allow cookies for fully-functioning website.

Allow Cookies Privacy Policy