The bank’s total assets, including acquired assets, increased by 31% to reach JD3.6 billion compared to JD2.8 billion at the end of 2020, while the bank’s net operating income during the first six months of this year amounted to JD35.2 million, compared to JD26.8 million during the same period of the previous year, an increase of 31%.

Capital Bank's direct credit facilities increased by 35% to reach JD1.9 billion, compared to JD1.4 billion at the end of 2020, while customer deposits rose from JD1.7 billion at the end of 2020 to JD2.3 billion by the end of the first half of 2021, an increase of 36%.

Capital Bank Group also recently announced its intention to launch the first integrated digital bank that will focus on serving both corporates and individuals in Jordan and Iraq through an advanced digital platform that employs cutting-edge technologies. Neobank, which will provide its users with all the necessary digital and financial tools for them to fully control their financial decisions, will have its own brand and identity, and will work to completely transform traditional banking into advanced digital solutions, significantly impacting the transformation to a digital economy in the region.

During the first quarter of 2021, Capital Bank Group completed its first acquisition through the purchase of Audi Bank’s operations in Jordan and Iraq, furthering its expansion both locally and regionally. The move, which clearly reflects the group’s vision and ambitious strategy of development and growth in the markets that it operates in, will also expand the bank’s retail service offerings.

The Chairman of Capital Bank Group, Bassem Khalil Al-Salem spoke of his pleasure at the strong financial results achieved by the bank during the first half of this year, saying, “Capital Bank continued to achieve outstanding financial results during the first six months of 2021, despite the continuing difficult economic conditions that Jordan is currently facing. And although the coronavirus pandemic has impacted countries at a global level, Capital Bank’s results reflect the strength and soundness of our strategic plans, whether those related to expansion and business diversification or the goup’s ability to deal with and confront challenges.”

Al-Salem went on to add that Capital Bank Group will continue to work to strengthen its position by applying to the highest standards to all its banking activities, providing its customers with unparalleled services in order to achieve the best returns for its shareholders and solidify its leading position in the local and regional banking sector, especially after its successful acquisition of Audi Bank’s operations in Jordan and Iraq. He added that the process of business integration in the post-acquisition period has been seamless in both countries, ensuring the continuity of banking transactions for former Audi Bank customers and guaranteeing job security for its employees.

According to Al-Salem, the National Bank of Iraq, which is a subsidiary of Jordan-based Capital Bank Group, received approval from the Saudi Council of Ministers in May to open a branch in the Kingdom of Saudi Arabia, which will expand its customer base and add further value for them. The move will also allow the bank to diversify its sources of revenue, will facilitate and encourage trade between Iraq and Saudi Arabia while simultaneously creating new opportunities for existing companies in the two countries. Al-Salem added that Yazeed Abunayyan has been appointed CEO of NBI’s Saudi-based branch, bringing with him diverse and extensive experience in the Saudi banking market, which will greatly contribute to the establishment and positioning of NBI in the Saudi market.

Speaking about the results, Capital Bank CEO Dawod Al Ghoul said, “We are pleased at these outstanding results, which have seen all our financial indicators increasing in the first half of this year, thanks to the strong performance of our core business despite the intense competition in the Jordanian banking market and the decrease in interest rates during the first half 2021.”

With regards to NBI, Al Ghoul said that the bank increased its net assets during the first half of 2021 by 41% compared to the end of 2020, including its acquired assets. Customer deposits also grew during the first half of 2021, reaching JD323 million, a rise of 59% compared to the end of 2020. Gross income also increased, growing by 12% compared to the same period of the previous year, which is attributed to the increase in revenues from bank interests and commissions.

Commenting on the results achieved by Capital Investments, Al Ghoul said, “The company recorded positive numbers that included a significant increase in its net profits for the first half of 2021, amounting to JD1.9 million, compared to JD702,000 for the same period in 2020, an impressive increase of 175%, which was largely due to the expansion of the company's business in financial brokerage and asset management."

Capital Bank Group has rolled out an innovative strategy for digital transformation by offering more online services to the local and regional markets, which will improve customer experiences and facilitate the Group’s internal operations.

About Capital Bank Group

Capital Bank Group is considered one of the top financial institutions operating in the Jordanian and regional markets, with assets of JOD 3.4 billion, while the total equity of its shareholders is approximately JOD 400 million.

Capital Bank Group includes Capital Bank, which since its inception in 1995, has grown to become one of the top financial institutions in Jordan, offering the Jordanian market a comprehensive set of commercial and investment banking services and solutions tailored to the needs of retail and corporate clients alike.

In 2005, Capital Bank (Jordan) purchased majority shares of the National Bank of Iraq (61.85%), which enabled NBI to develop its products and services, strengthen its foothold and enhance financial inclusion at the country level, support export activities and provide all services to Jordanian companies operating In Iraq. As for Capital Investments, it is a wholly owned subsidiary of Capital Bank established in 2006 and offers specialized investment banking services to its clients through its offices in Jordan and the United Arab Emirates / Dubai International Financial Center (DIFC).

Before the end of 2020, in a bid to accomplish its expansion plans, Capital Bank Group took the full acquisition of Lebanese Bank Audi business in Jordan and Iraq, thus the number of Capital Bank branches reached 28, while the National Bank of Iraq branches reached 18.