Arab Jordan Investment Bank (AJIB) successfully completes acquisition of HSBC Jordan operations

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Monday, 7 July, 2014

(Amman - June 25, 2014) –As part of its strategic efforts to expand its operations and clientele, the Arab Jordan Investment Bank (AJIB) has announced the successful takeover of HSBC Middle East Limited banking operations in Jordan.The acquisition was put into effect following the close of business on June 19, in what is considered the largest acquisition in the history of the Jordanian banking sector. Following this handover, HSBC Jordan customers are now part of AJIB’s esteemed customer base.

Commenting on the successful handover, AJIB General Manager/CEO Hani Al Qadi said, “This occasion serves as an important milestone for AJIB, ushering in the next ambitious phase of growth and expansion for the bank. By expanding AJIB’s share of the local banking industry, we hope to further enrich the market, delivering innovative solutions that elevatethe customers’ banking experienceand raise the bar for the banking sector which is a key pillar of the national economy.”

Al Qadiadded, “We are alsoseizing this opportunity to renew our commitment to AJIB’s esteemed customers, assuring them that we will continue to implement global best practices while delivering the latest and most innovative banking services. We are proud to expand our AJIB group, and look forward to developing and building upon the fruitful, long-term partnerships we seek to establish with allour customers, serving as their trusted partner for success and prosperity.” Al Qadialso thanked all the regulatory entities that were involved in the acquisition, particularly the Central Bank of Jordan for their support and cooperation during the handover process.

AJIB has further developed and upgraded its banking services and products in an effort to meet the continuous growth ofits customer base and the expansion of its banking operations. The bank has innovated a number of services and offerings in its portfolio, including its online banking platform, retail banking, corporate finance, corporate and commercial banking, private banking and foreign investment services.

Today, AJIB’s network includes 33 branches and offices located in major population centers and commercial districts across Jordan, as well as over 50 ATM machines readyto serve AJIB customers. AJIB also has a regional and international presence in Cyprus, Qatar, and the UK.