Jordan Kuwait Bank

Jordan Kuwait Bank
IndustryFinance
FoundedOctober 25, 1976
HeadquartersAmman, Jordan
Key people
Nasser A. Lozi, Chairman
ProductsFinancial services
Revenue~ US$85 mm 2006
Number of employees
947
Websitewww.jkb.com

Jordan Kuwait Bank, a Jordanian public shareholding company, was founded in 1976 and has successfully evolved into a major player in the Jordanian banking system over the last few years. The bank currently operates a domestic network of 62 branches and offices distributed throughout Jordan in addition to a branch in Cyprus. The bank's paid-up capital was gradually increased from JD 5 million in 1976 to JD 100 million (USD 141 m) in 2008. According to the bank's website, its philosophy rests on the concept of bringing capital into Jordan from other Arab countries, especially Kuwait.[1]

Jordan Kuwait Bank holds a controlling shares of more than 50% in the United Financial Investments Company (Jordan) and a 10% stake in Gulf Bank Algeria.[citation needed]

In 2018, it acquired 10% of Al Quds Bank. Following the deal, the Jordan Kuwait Bank's branches in Palestine were merged with Al Quds Bank.[2]

References

  1. ^ Jordan Kuwait Bank
  2. ^ "Jordan Kuwait Bank acquires 10% of Al Quds Bank and merges its branches in Palestine with Al Quds Bank | Jordan Kuwait Bank". www.jkb.com. Retrieved 2022-05-24.
Stub icon

This Jordan-related article is a stub. You can help Wikipedia by expanding it.