Joint Press Release Bank al Etihad and INVESTBANK Announce Jordan’s Largest Banking Merger

AMMAN — Bank al Etihad and INVESTBANK have announced that their respective Boards of Directors have approved a strategic merger under which Bank al Etihad will acquire 100% of INVESTBANK’s share capital. The acquisition will be carried out through a capital increase by Bank al Etihad, with all newly issued shares allocated to INVESTBANK shareholders in exchange for transferring full ownership of their shares to Bank al Etihad. This move sets the stage for the formal merger of INVESTBANK into Bank al Etihad (the surviving entity), in accordance with applicable legal and regulatory frameworks.

This merger marks a major milestone in Jordan’s banking sector, creating a unified institution with significantly enhanced capital and operational strength. Following the completion of the transaction, Bank al Etihad’s capital will increase to JOD 325.2 million, with total equity reaching approximately JOD 1 billion. Combined total assets will rise to nearly JOD 11 billion, positioning Bank al Etihad among the largest national banking institutions.

The transaction represents a significant achievement and is aligned with the Central Bank of Jordan’s strategy to encourage mergers that create stronger, more resilient financial institutions, particularly given the vital role banks play in supporting the national economy.

This step is part of a well-considered strategic vision aimed at reinforcing the bank’s local presence and driving regional expansion. The newly formed entity will benefit from greater operational flexibility and wider geographic reach, enabling it to access new market segments and grow its customer base both locally and regionally. It will also be well-positioned to deliver integrated financial services that meet the evolving needs of individuals and businesses.

Both banks reaffirm their commitment to retaining employees, recognizing the essential role of human capital in sustaining success and maintaining institutional balance. They are dedicated to fostering a stable work environment that empowers talented professionals to thrive in this new phase.

Basem Salfiti will continue to serve as Chairman of the Board, while Fahmi Abu Khadra will assume the role of Vice Chairman (subject to board approval). Muntaser Dawwas will be appointed CEO, pending approval from the Central Bank of Jordan. Her Excellency Nadia Al-Saeed, the current CEO, will continue in her role until the transition to the next phase is complete.

The merger will be presented to the general assemblies of both banks in separate extraordinary meetings scheduled for June 25, 2025. This step will initiate the completion of all formal procedures, pending the necessary regulatory approvals from the relevant authorities, notably the Central Bank of Jordan, the Ministry of Industry and Trade / Companies Control Department, and the Jordan Securities Commission.