News Column

Arab Jordan Investment Bank to buy HSBC business in Jordan

January 22, 2014

Arab Jordan Investment Bank (AJIB) announced it signed an agreement to acquire the banking business of HSBC Bank Middle East Limited in Jordan . HSBC had four branches in Jordan at end-September 2013 with gross assets worth USD 1.2bn . The transaction is expected to be completed in H1 2014, AJIB said in a statement. The deal won the approval of the regulatory authorities, CEO Hani Al Qadi said. HSBC Bank Middle East Limited is a principal member of the HSBC Group since 1959. Arab Jordan Investment Bank is a public company, listed on the Amman Stock Exchange since September 2003 . It has 6 subsidiaries operating across Jordan , Qatar and the United Kingdom . Arab Investment Bank is based in Amman and was established on January 1978.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: IntelliNews - Weekly Reports

Story Tools