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    Jordan's Capital Bank acquires Lebanon's Bank Audi's businesses in Iraq, Jordan

    December 30, 2020
    banking

    AMMAN, Dec. 29 (Xinhua) -- Amman-based Capital Bank Group signed on Tuesday agreements to acquire Lebanese lender Bank Audi's businesses in Iraq and Jordan.

    The agreements include the acquisition by the National Bank of Iraq, a subsidiary of Capital Bank Group, of the operations of Bank Audi's Iraq Branch Network, including the purchase of the assets and liabilities of these branches, Capital Bank said in a statement.

    By the end of September 2020, Bank Audi's assets in Jordan stood at 506 million Jordanian dinars (713.7 million U.S. dollars), while those of its Iraq branches reached 275 billion Iraqi dinars (188.32 million U.S. dollars).

    Accordingly, these acquisitions will increase the consolidated assets of Capital Bank to 3.6 billion Jordanian dinars, the bank group said in the statement.

    xinhuanet

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