Fortune magazine, known for financial and business topics, included Capital Bank Group in its list of the top 500 Arab companies for 2023 based on annual revenues.

Fortune 500 Arabia rankings rely on criteria such as total revenues and employee count. This involves thorough research of financial stock markets in 22 countries and analyzing financial data from companies. They ensure alignment with independent financial data from "S&P Capital IQ" by Standard & Poor's.

Capital Bank Group's Acting CEO, Samer Al-Aloul, commented, saying, "We're proud of this achievement, showcasing our strength and stability despite economic challenges. It reflects our strong position in the local and regional banking sector, emphasizing our commitment to staying current in the industry."

Al-Aloul added, "We strive for innovation, catering to evolving customer needs. Our continuous investment in infrastructure and modern technologies ensures better service delivery. We're committed to sustained growth, adding value for customers, shareholders, and employees."

In 2022, Capital Bank Group strategically expanded locally and regionally by opening a branch for the National Bank of Iraq in Saudi Arabia to enhance trade between the two countries.

Moreover, Capital Bank acquired 100% of Société Générale Bank - Jordan and took over Bank Audi's operations and branches in Jordan and Iraq.

The group's growth attracted the Saudi Public Investment Fund, investing about 23.97% of the group's capital, valued at around 695 million Saudi Riyals (185.3 million USD) in 2022.

About Capital Bank Group

Capital Bank Group is considered one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.5 billion, while the total equity is nearly JOD 670 million.

Capital Bank Group includes Capital Bank, which since its inception in 1995, has grown to become one of the top financial institutions in Jordan, offering the Jordanian market a comprehensive set of commercial and investment banking services and solutions tailored to the needs of retail and corporate clients alike.

In 2005, Capital Bank (Jordan) purchased majority shares of the National Bank of Iraq (61.85%), which enabled NBI to develop its products and services, strengthen its foothold and enhance financial inclusion at the country level, support export activities and provide all services to Jordanian companies operating In Iraq.  In 2021, the National Bank of Iraq continued to realize its expansion strategy by launching its first branch in the Kingdom of Saudi Arabia to provide financial and trade services to its corporate clients.

As for Capital Investments, it is a wholly owned subsidiary of Capital Bank established in 2006 and is set as a regional leader in providing comprehensive investment banking services that include asset management, brokerage as well as corporate financial advisory. The company serves a diverse array of local, regional, and international clientele, including major corporations, government entities, and high-net-worth individuals through its offices in Jordan and the United Arab Emirates / Dubai International Financial Center (DIFC).

Further building on its ambitious expansion strategy, Capital Bank Group also acquired Bank Audi’s operations in both Jordan and Iraq in 2021 and followed that milestone in 2022 with the acquisition of the branches and operations of Société Générale Bank in Jordan, strengthening its competitive position in the Jordanian banking market. In early 2022, Capital Bank launched its digital bank - Blink, to re-imagine the way people conduct their banking operations, targeting young individuals.

In June 2022, Capital Bank raised its capital through issuing new shares in favor of the Public Investment Fund (PIF) – one the largest sovereign funds worldwide – as a strategic investor in Capital Bank. with a 23.97% stake, a milestone which will enable the Group to implement its expansion strategy and introduce new products and services to meet the needs of its clients and benefit its shareholders.

For more information, please visit Capital Bank website: www.capitalbank.jo