Capital Bank’s Extraordinary General Assembly approves capital increase in favor of the Public Investment Fund
the Public Investment Fund (PIF) as a strategic investor in Capital Bank.
Bassem Khalil Al-Salem, in the presence of Group CEO Dawod Al-Ghoul and 86.9% of the bank’s shareholders.
Al-Salem described the agreement — which will see PIF purchasing 23.97% of the Group’s capital at an investment value of JOD 131.2 million — as one of the most significant transactions conducted by the banking sector in the region, and one that reflects positively on Capital Bank's long-term position and financial prospects.
Al-Salem also stated that 63 million shares will be issued for the benefit of PIF upon completion of the deal, which in turn will raise the Group shareholders’ equity to exceed JOD 600 million.
Al-Salem also stressed the significance of this strategic investment as a testament to Capital Bank’s solid reputation in the region. He further stated that, despite the capital increase, Capital Bank is still able to achieve double-digit returns to shareholders through its ambitious expansion and investment plans. He underscored that this deal is a manifestation of greater confidence in Capital Bank Group, which has a proven track record of continued, sustainable growth in the Jordanian banking sector. The bank, he added, has historically been able to not only weather enormous challenges but to transform them into worthy growth opportunities, even during the most challenging circumstances recently faced by Jordan and the world at large.
During his opening statement, Al-Salem had cited some of Capital Bank’s key achievements over the past two years, which included acquiring two of the most prominent foreign banks operating in Jordan and Iraq, Bank Audi and Société Générale de Banque Jordanie. The Group had also launched its digital bank - Blink, in addition to issuing the first $100 million perpetual AT1 bond in Jordan
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