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The money bank, known as “CAPITAL BANK” in Jordan, announced the acquisition of the banking business of the Lebanese Bank Audi branches in Jordan and Iraq.
Consequently, the bank entered into a non-binding and exclusive acquisition agreement, after obtaining approval from the Central Bank of Jordan and Iraq to complete the acquisition of Bank Audi branches and the purchase of its assets and liabilities.
The money bank will conduct a study that denies ignorance of all aspects related to the deal.
Bank Audi had announced the realization of profits worth about 975 million pounds before deducting income taxes during the first half of this year.
It explained in a statement that it posted a net profit of around 651 million pounds during the first half of this year. It noted that its total assets approached about 77 billion pounds, while property rights increased to 7 billion Egyptian pounds in June 2020.
According to the results of the bank’s activities, the capital adequacy rate was recorded at around 24.98%, reflecting the bank’s financial efficiency and its ability to expand investments and financing.
Bank Audi CEO Mohamed Badair said that the bank’s positive indicators are a strong boost that strongly strengthens the bank’s presence in the Egyptian banking market and completes its expansion plans in Egypt.
He explained that the retail banking portfolio amounted to almost 9 billion pounds in June 2020, compared to almost 8 billion pounds in December 2019, an increase of 13%.
Source: Agencies
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