By : JD News Desk
Jordan Daily – Jordan Kuwait Bank (JKB) said on today its board had approved starting procedures to acquire a controlling 88.892% stake in Malta-based FIMBank, an international trade finance institution.
The stake is currently held by Kuwait Projects Company (KIPCO) Group through United Gulf Holding (80.395%) and Burgan Bank (8.497%). Completion of the transaction is subject to regulatory approvals from the Central Bank of Jordan, the Malta Financial Services Authority, and the European Central Bank, JKB said in a statement seen by Jordan Daily.
FIMBank, headquartered in Malta, operates subsidiaries and offices in the United Kingdom, India, and Dubai, offering trade finance, factoring, and treasury services. It holds total assets of around $1.3 billion and shareholders’ equity of approximately $182 million.
JKB said the acquisition aligns with its strategy to expand geographically and strengthen its international presence, particularly in European markets, to diversify income sources and enhance financial standing abroad.
Separately, the bank’s board approved recommending a capital increase of JD 60 million through a private placement. The issuance will include 30 million new shares at 2 dinars per share, subject to regulatory approval, to finance the planned acquisition and support regional and international expansion.
