Top List of Banks in Jordan
The growth of the banking sector in Jordan is one of the most vital factors in accelerating economic growth. Banking facilities like deposits, foreign exchange transactions, and loans are tools used to accelerate economic expansion. The role of banks in stimulating investment and international trade has become more important than before because they enjoy many advantages not enjoyed by other financial institutions. The banking system comprises the Central Bank of Jordan,25 banks, and 14 Islamic windows (Islamic banks or Islamic windows of conventional banks).
Common banking products in Jordan include demand deposits, savings accounts, time deposits of 12 months or more, and foreign currency deposits. Here are some banks that boast of reasonable success in Jordan.
Bank of Jordan
Bank of Jordan is the largest bank in Jordan regarding total assets, including financial and credits. The bank operates under a network of 16 branches, loans to deposits ratio Banking services includes personal savings accounts and time deposits, issuing credit cards, personal loans, and housing loans.
The dedication to improving the banking experience has resulted in a number of innovative banking products, each of which is uniquely suited for different individuals and businesses. Bank of Jordan is the largest bank in Jordan. It was established in1960 and has been listed on the Amman Stock Exchange. Its total assets stand at JOD 6.9 billion (USD 3.79 billion).
Arab Bank
Arab Bank was established in 1930, becoming the first bank to be headquartered in Amman and the largest financial institution in Jordan. A full-service universal bank, Arab Bank serves customers across five continents from more than 600 branches and offices strategically located worldwide. It combines authentic Jordanian heritage with contemporary Arab banking values to provide its customers with an enriching banking experience. Arab Bank shares are listed on the Amman Stock Exchange, London Stock Exchange, Kuwait Stock Exchange, and Bahrain Stock Exchange.
Arab Bank is the largest banking network in Jordan with an unmatched network of branches all over the country with made-to-measure customer services and a wide selection of products and offerings ranging from personal banking to investment banking. Its assets were reported to be JOD 62.52 billion as of 2021.
Cairo Amman Bank
CAB is one of the leading banks in Jordan. Established in 1960, Cairo Amman Bank stands for a mixture of modernity and tradition, relying on its experience of nearly four decades in the Jordanian market. It provides a wide array of financial services and products, including Corporate Banking, Retail Banking, Investment banking, and private banking.
Cairo Amman Bank was established as a joint venture between Jordanian and Egyptian banks to administer to the needs of the business and economic community. It manages 20 branches in Jordan with several ATMs to make its customers' work easier. It has an asset of JOD 3.15 billion (USD 4.73 billion).
Capital Bank of Jordan
Capital Bank of Jordan is a commercial bank based in Amman, Jordan, founded in 1995. It offers personal banking, corporate banking, cards and payments, and wealth management services. Capital Bank is considered as one of the leading banks in Jordan in terms of assets, deposits, loans, and shareholders' equity according to the Basel II regulations. It provides comprehensive financial services through its branch network in Amman.
The bank's shareholders are mainly Jordanian businessmen specializing in Trade, Industry, and services. This type of business experience qualifies the Bank's shareholders to define their customers' work trends and develop new financial tools to keep pace with the competition. Total assets of the bank as of 2021 were at 2.75 billion, which was equivalent to USD 3.88 billion.
Jordan Kuwait Bank
Jordan Kuwait Bank (JKB) is a joint venture between Jordan's largest commercial bank, Jordan Ahli Bank, and Kuwaiti financial institutions. JKB is an Islamic bank in Jordan that serves corporate and retail customers. JKB aims to become the premier financial institution in the region, renowned for its reliable, high-quality service and continued focus on corporate citizenship.
JKB was founded in 1979 and has had 64 branches since then, with several offices across the country. Its total assets stand at JOD 2.78 billion (USD 2.92 billion).
Jordan Ahli Bank
Jordan Ahli Bank is a public shareholding company established in 1955. In 1997 Jordan Ahli Bank merged with the Yemen Commercial Bank and became the first merged bank in the Jordanian banking sector. The bank operates through its headquarters in Amman, its capital city. It specializes in corporate, retail, and investment banking services, including personal and commercial banking, investment and finance, private banking, and treasury services. JAB's total assets as of 2018 stood at JOD 2.85 billion.
Arab Jordan Investment Bank
The Arab Jordan Investment Bank (AJIB) was established in 1978 (as an Egyptian Jordanian bank) and was the first investment bank in Jordan. It currently manages a network of 33 branches across the country. Arab Jordan Investment Bank is listed on both the Amman Stock Exchange and the Dubai Financial Market.
Its main objective is to provide a diversified range of banking products and services, attain a reasonable return on capital, and compete vigorously while ensuring the quality of service and minimizing risks. Total assets as of 2019 were JOD 2.2 billion (USD 3.12 billion).
Jordan Islamic Bank
Jordan Islamic Bank is an Islamic bank in Jordan. This full-fledged commercial bank adopts Islamic Shari'a principles in all of its dealings and is considered the pioneer of Islamic banking in Jordan. The Bank provides a variety of Retail and Corporate Banking products, including current and savings accounts, credit cards, prepaid cards, personal finance, investment finance, working capital finance, and project finance.
JIB was established in 2078 and now has over 83 branches with 25 offices spread across Jordan. As of 2018, the bank's total asset was JOD 4.9 billion (USD 6.9 billion).
Bank al Etihad
Bank al Etihad is a leading financial services provider in Jordan. The Bank offers a wide range of banking solutions and services, including corporate and personal banking, treasury products, credit cards, and investment services. It was established as a public shareholding company to meet the financing needs of businesses operating in Jordan and Palestine. Its assets stand at JOD 5.55 billion (USD 7.83 billion)
Société Générale de Banque – Jordanie
Société Générale de Banque – Jordanie is one of the leading universal banks in Jordan. A major player in the Jordanian banking scene, it embraces financial services in all their forms and is an active contributor to Jordan's economic development. Its activities have been expanded over the years, and since 2002 are characterized by continuous growth due to a prudent approach towards credit policy and portfolio diversification. The bank has adopted a long-term vision of development that relies on the diversification of income while offering a full range of products and services.
Société Générale de Banque – Jordanie operates in 75 countries with its assets standing at 1.58 as at 2021 (USD 2.23 billion).
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FAQs
Is there an American bank in Jordan?
Yes, CitiDirect is an American bank that is the only commercial bank in the country. It is a trusted bank in Jordan with most services done well and to the customer's satisfaction.
