Bank al Etihad and Investbank Announce Strategic Transaction to Form Jordan’s Second Largest Bank

Bank al Etihad and Investbank have announced that their respective Boards of Directors have approved moving forward with a strategic transaction under which Bank al Etihad will acquire 100% of Investbank’s share capital. The transaction will be executed through a private capital increase by Bank al Etihad, fully allocated to Investbank’s shareholders in exchange for the full transfer of their ownership to Bank al Etihad. This paves the way for the completion of the legal merger between the two institutions, forming the second largest bank in the Kingdom by assets.

The merged bank will operate under the Bank al Etihad brand with:

• Capital of JOD 325.2 million
  
• Shareholder equity exceeding JOD 1 billion
  
• Total assets reaching approximately JOD 11 billion

This transaction is the first of its kind in the Kingdom in terms of structure (a share-based acquisition), and one of the largest consolidation and capacity-building deals in Jordan’s banking sector. It also aligns with the Central Bank of Jordan’s direction to support strong and flexible banking entities capable of facing economic challenges and driving financial inclusion and national growth.

A strategic step toward building a stronger institution

This merger combines the complementary strengths of both banks and comes as part of a carefully considered growth strategy aimed at enhancing local presence and expanding regional outreach, enabling the merged bank to:

• Strengthen its leadership in strategic sectors
  
• Accelerate expansion in targeted regional and global markets
  
• Offer integrated banking solutions focused on delivering the best customer experience

This step also supports the national vision by creating a more flexible and competitive financial institution capable of adapting to changes and meeting the needs of the Jordanian economy.

Leadership for the Next Chapter

As part of the post-merger leadership structure:

• Mr. Basem Salfiti will continue to serve as Chairman of the Board of Directors
  
• Mr. Fahmi Abu Khadra will assume the role of Vice Chairman (subject to Board approval)
  
• Mr. Muntaser Dawwas, CEO of Investbank, will be appointed CEO of the merged entity (pending Central Bank approval)
  
• H.E. Ms. Nadia Al Saeed, current CEO of Bank al Etihad, will remain in her role throughout the transition period

Next steps & approvals

This transaction is subject to the approval of both banks’ Extraordinary General Assemblies, scheduled to meet on 25/6/2025, in addition to approvals from the relevant authorities, namely:
The Central Bank of Jordan, the Ministry of Industry and Trade / Companies Control Department, and the Jordan Securities Commission.

The legal merger is expected to be completed during the first quarter of 2026.