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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Acquisition of the banking business of Bank Audi in Iraq and Jordan

    Rocky
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    • Post n°1

    Acquisition of the banking business of Bank Audi in Iraq and Jordan Empty Acquisition of the banking business of Bank Audi in Iraq and Jordan

    Post by Rocky Fri 12 Mar 2021, 7:36 am

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    Baghdad - IQ  
    The Capital Bank Group announced, on Thursday, (March 11, 2021), the completion of its acquisition of the purchase of assets and liabilities of Bank Audi branches, and the transfer of all operations of the latter and its branches operating in Iraq and Jordan to the Capital Bank Group, indicating that this came in accordance with the final agreement that was signed Recently between the two parties.
    The bank said in a press release affiliated with the IQ NEWS website  , that “based on the acquisition process, former Bank Audi branches and its affiliated ATMs in Jordan will be available to customers under the brand of" Capital Bank "as of next Saturday to the branches located in the malls and next Sunday. For the rest of the branches, where all the information on the details of customers' accounts and their banking products were automatically transferred to Capital Bank, while the credit card services and payment cards granted to them remain available for use as usual after the completion of the transition phase.
    Capital added that "Bank Audi has completed all its operations in all of its 5 branches in Iraq and transferred them to the National Bank of Iraq at the end of the day, Thursday, where all information on the details of customers' accounts and their banking products was transferred automatically to the National Bank of Iraq, and credit cards and cards will remain. The payment granted to them is available for use as normal. "
    The Chairman of the Capital Bank Group, Basem Khalil Al-Salem, affirmed that "the acquisition comes within the framework of the Capital Bank Group's expansion strategy and its ambitious plans to strengthen its competitive position, especially since the group has witnessed continuous growth in its budget over the past years," noting that "according to the deal, the number of branches will increase. Capital Bank in Jordan will reach 28 branches, and the total number of Iraqi National Bank branches will increase to 18.
    He stated that "innovative digital banking services and products will be provided, in order to achieve the highest levels of satisfaction among the bank's growing customer base of individuals and companies, while all contracts and transactions committed by Bank Audi in Jordan towards its customers will be kept without any change, as well as the cadres and employees." Employees of Bank Audi branches under the umbrella of the Capital Bank Group.
    Al-Salem expressed his appreciation for "the efforts made by the Governor of the Central Bank of Jordan, Dr. Ziad Fariz and his deputy Maher Sheikh Hassan, and the Central Bank staff for their support and assistance to ensure the success of the acquisition." Diligently to complete all activities related to the acquisition process in record time. "
      It is noteworthy that the assets of Bank Audi in Jordan and Iraq amounted to approximately 650 million dinars by the end of December 2020, and this acquisition will raise the value of Capital Bank Group’s assets to reach 3.5 billion dinars, and increase the group’s shareholders ’equity to nearly 400 million dinars.
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