At the the General Assembly also approved the purchase of 100% of Société Générale– Jordan’s shares and authorized the chairman of the board of directors to take all the necessary measures to complete the purchase and the transfer of ownership of Société Générale - Jordan, including its operations, rights, assets and liabilities to Capital Bank.

The two meetings, which were held virtually, were chaired by Capital Bank Group Chairman Bassem Khalil Al-Salem, and were attended by board members, group CEO Dawod Al-Ghoul, as well as shareholders representing about 81.38% of the bank’s capital. The meeting was also attended by the Companies Controller Dr. Wa’el Al-Armouti and representative from the bank's auditors.

By the end of 2021, Capital Bank recorded exceptional financial results, with net profits reaching JD61 million, compared to JD30.3 million in 2020, with an increase of 100%, as well as a growth in profits of 70%, after excluding all non-recurring operations, including the outcome of the acquisition of Bank Audi's banking operations.

Capital Bank Group’s assets also saw remarkable growth of 57%, reaching JD4.3 billion at the end of 2021, compared to JD2.8 billion at the end of 2020, an increase of JD1.6 billion, of which JD523 million came as a result of the acquisition of Bank Audi's branches and business in Jordan and Iraq.

The net credit facilities portfolio grew by 49% to reach JD2.1 billion in 2021, compared to JD1.4 billion in 2020. Customer deposits also increased by 65.5%, to reach JD2.8 billion in 2021, compared to JD1.7 billion during the previous year. By the end of 2021, return on shareholder equity was 16.3%, which is among the highest rates in the Jordanian banking sector.

Capital Bank Group’s subsidiaries also performed exceptionally, with NBI’s assets growing by 103% to reach JD876 million, compared to JD433 million in 2020. Customer deposits increased by 176% to reach JD562 million in 2021, compared to JD203 million in 2020.

Capital Bank Group’s investment arm, Capital Investments, saw profits after tax increase by 95% to reach JD3.8 million, supported by an increase in the volume of assets under management that reached $425 million dollars, in addition to a 35% increase in brokerage accounts compared to 2020.

In his remarks to the general assembly, Al-Salem said that over the past two years, Capital Bank Group has achieved positive results that have been reflected in most indicators of profitability and financial strength, as part of an ambitious expansion vision that has led to the strengthening of its position in the banking markets of Jordan and Iraq. He went on to add that the acquisition of Bank Audi in Jordan and Iraq has contributed to the group's well-planned and deliberate growth strategy, which places the interests of shareholders as well as economic value at the forefront of its priorities. According to Al-Salem, the acquisition of Société Générale - Jordan will also further the group's growth.

Al-Salem said that Capital Bank Group has strengthened its presence in the region by establishing a branch of the National Bank of Iraq in the Kingdom of Saudi Arabia, a move that is in line with the group’s vision of expanding regionally in order to build on the economic opportunities in the region and further Arab economic integration.

He also touched on the latest developments in the Jordanian economy, which started showing signs of recovery from the coronavirus pandemic at the beginning of 2021. This improvement was reflected in a number of vital economic indicators, prompting international financial and credit institutions including Standard & Poor’s to commend the rapid and effective response of financial and monetary authorities during the exceptional circumstances of the past two years, which lessened the severity of the shocks.

Capital Bank Group’s record financial results in 2021 reflect the effectiveness of its expansion strategy, the future plans it has in place and its ability to efficiently execute its policies. According to group CEO Al-Ghoul, the group made great strides in 2021, strengthening its leading position in Jordanian and regional banking markets to achieve growth and expansion, through the adoption of the latest and most innovative solutions in the banking sector that meet the unique needs of its growing customer base, which has more than tripled for Capital Bank and the National Bank of Iraq, and through acquisitions in different markets.

Al-Ghoul went on to say that Capital Bank issued $100 million (equivalent to JD70 million) worth of perpetual bonds categorized under the additional capital AT1 as a way of supporting the group’s capital base and financing its expansion and digital transformation strategy, adding that this issuance was the first of its kind for a Jordanian bank on an international financial exchange in the region, with Dubai considered the largest listing center for US dollar-denominated debt instruments in the Middle East.

Capital Bank recently launched Blink, a digital bank that provides its services through an intuitive and secure platform. Blink will focus on furthering financial inclusion in Jordan and aims to help people achieve financial independence, with a focus on individuals, home-based business owners, women and university students in its first phase, with plans to launch soon in the Iraqi market.