Al-Salem: This ranking reflects the success of the group's strategy and ambitious plans for horizontal and regional expansion.

According to a recent list published by Forbes, Capital Bank Group ranked 50th among the largest banks in the Middle East in terms of market value, which reached 915 million dollars for the year 2023. The current year's list includes the largest 50 banks in 10 markets across the region, with a total value of 548.1 billion dollars, according to market closures on February 28, 2023. Gulf banks dominate the list with a total of 41 banks, representing about 82% of the list, while Saudi Arabia and the UAE are the most represented with 10 banks each.

Forbes stated that Capital Bank Group, which was founded in 1995 and currently operates in Jordan, Iraq, Saudi Arabia, and the UAE, has witnessed significant local and regional growth in recent years. The Public Investment Fund of Saudi Arabia became a strategic investor in the group in June 2022, with a stake of 23.97% for 185 million dollars, by subscribing to 63 million shares. In October 2022, Capital Bank Group completed its acquisition of Société Générale Bank - Jordan. The group's total assets reached 9.8 billion dollars by the end of 2022, compared to 6.1 billion dollars in 2021. The group also acquired Bank Audi's operations in Jordan and Iraq in 2021 and employs 2,190 people working in 63 branches.

Forbes’ report noted that the global banking sector is going through a difficult year, yet banks in the Middle East appear to be resilient to financial disruptions, thanks to ample liquidity and low-cost deposits, as well as a lack of significant transactions with American banks that have been hit by the crisis.

Capital Bank Group’s Chairman Bassem Khalil Al-Salem expressed his pride in Forbes magazine's recent ranking of the group among the 50 largest banks in the Middle East. He explained that this recognition is a testament to the group's successful and solid strategy, as well as its ambitious plans that have been implemented over the past few years. These efforts have led to impressive financial results and record profits of around $128 million by the end of 2022, which represents a 49% increase over the previous year. Additionally, the group has fortified its leading position in the banking market locally and regionally, including a strong presence in Iraq and expansion to other markets such as the Kingdom of Saudi Arabia, where the first branch of the National Bank of Iraq has been established.

Meanwhile, the CEO of Capital Bank Group, Dawod Al-Ghoul, expressed his gratitude towards the hardworking and dedicated employees of the group, who have contributed to realizing these distinguished achievements over the past years. He credits their efforts as being a significant factor in Forbes magazine’s recent classification of Capital Bank Group among the 50 largest banks in the Middle East, a recognition of the durability and resilience of the group's market value.