By : JD News Editor
Jordan Daily- Bank al Etihad has signed a final agreement to acquire the branches and operations of the Egyptian Arab Land Bank in Jordan, the Bank said in disclosure to the Amman Stock Exchange, as part of a strategy to drive balanced and sustainable growth.
The acquisition is aimed at strengthening Bank al Etihad’s position in the Jordanian banking market by expanding its asset base and widening its geographic footprint, according to the disclosure.
Bank al Etihad said the deal would broaden its customer base, enhance its banking portfolio and support the integration of resources, while enabling the development of products and services, particularly for retail clients and small and medium-sized enterprises.
The transaction is also expected to increase the bank’s total assets and expand its branch network and digital banking services.
The acquisition comes as part of a broader, final merger plan between Bank al Etihad and The Investment Bank, which is expected to result in a unified banking entity with total assets exceeding JD12 billion.
