The loan facility, which saw first drawdown recently, aims to fund a portfolio of trade assets with Asian exporters to Jordan.  The first of its kind trade loan granted to Capital Bank by Citibank will further solidify the former’s position as a key enabler in the local corporate banking sector, increase its lending capabilities to corporate clients and expand its outreach to larger segments, achieving a positive turnaround on the local economy.

The facility falls within Citi’s strategy to support corporate & FI clients in Jordan and help them unlock liquidity as trade activities rebound.

Nour Jarrar, CEO of Citibank N.A. Jordan said: “We are proud of our partnership with Capital Bank of Jordan which led to a remarkable execution and made this loan a true success. This transaction further strengthens our relationship and represents an excellent opportunity for the Jordanian market in terms of securing funding to facilitate trade activities. We look forward to replicating such transactions to help realize further trade growth in the country”.

Dawod Al Ghoul, Capital Bank CEO, commented: “through this trade loan we received from Citibank, Capital Bank will be able to increase its support to local corporates, which will help boost trade activities and in turn, yield a positive impact on the local economy. This first trade loan from Citibank granted to a Jordanian bank is a testament of the solid partnership we have and are proud of with Citibank. “

Established in 1995, Capital Bank is one of the leading Jordanian banks specialized in providing integrated packages of investment and commercial banking solutions and services designed to meet the requirements of corporate and individual customers alike.

It is listed on the Amman Stock Exchange. Capital Bank is a majority shareholder in the National Bank of Iraq, and has recently acquired the operations of the Lebanese Bank Audi in Jordan and Iraq.

Established in 1974, Citi Jordan is a trusted banking partner, as well as a responsible corporate citizen. Citi was the first financial institution in Jordan to offer electronic banking, and recently introduced a suite of business and financial solutions for mid-sized companies, complementing Citi Jordan’s top-tier local corporate client base.