Iraq and Jordan units in an acquisition that will help the Jordanian bank to diversify and expand domestically and regionally, its chairman said.
“We have begun the process of due diligence and it will take some time, then we come up with an offer. We are agreed on the basic principles,” Bassem Al Salem, chairman of Capital Bank, told Reuters. The acquisition of Audi’s unit Iraq would allow Capital Bank to expand in a niche corporate market banking scene where Capital Bank already has a presence through a 62% shareholding in National Bank of Iraq, a retail bank with over $533 million in assets.
Huummn, it has started, bankers will soon by off the Arabian peninsula.
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