Cairo Amman Bank (CAB) is one of Jordan’s leading financial institutions. Since its establishment in 1960, as a public sharing holding company, CAB has been keen to enhance socioeconomic development both locally and regionally by servicing individuals, small and medium businesses, and large corporations across different segments. CAB serves its clients with a wide network of branches and innovative banking solutions, and offers a full range of products, services and solutions tailored to meet customers’ needs.
CAB operates a total of 94 branches in Jordan, 22 branches in Palestine and one branch in Bahrain. CAB’s advanced banking solutions are accessible through an ATM network of 186 machines, in addition to an array of digital services that include Internet Banking, Mobile Banking, and IRIS recognition among others. CAB is also well renowned for its IT infrastructure and capabilities in adopting new and exciting technologies to help attain its leading technological role in the Jordanian market. By offering a wide variety of innovative banking solutions, CAB aims to deliver ease and convenience to customers. This is anchored by the fact that CAB holds a sizeable share of the retail banking segment, due to the trust and convenience offered by CAB to its clients.
CAB also meets various corporate and SME financial needs through its broad range of products and services serving business and industrial sectors. The bank’s prudent credit policy and risk management practices have contributed to achieving excellent growth rates throughout the past years; this maintains the quality of the credit portfolio, keeping non-performing loans ratios below average in the market, in addition to sustaining a high provision coverage ratio.
With efforts to expand its client base and target niche segments in Jordan, the bank launched two subsidiary trademarks; LINC for the youth (aged 18-40), and Signature for high-net-worth individuals and large corporations from the private sector. In terms of branches, LINC operates through 7 digitized branches, and Signature through 3 branches; with plans to further expand into specified locations throughout the upcoming years. Operations for both trademarks are in their initial phases, capturing clients and offering tailored products and services that directly accommodate the needs of the targeted segments.
During 2020, CAB launched “Labeeb”, a chatbot completely equipped with artificial intelligence to address customers’ inquiries and conduct transactions on command. The service received strong recognition in Jordan and set the base for advanced client engagement.
Furthermore, the investment arm of CAB, Awraq Investments, is one of Jordan’s leading investment companies effectively providing investment solutions and brokerage services to its diverse client base, consisting of retail and corporate customers across different segments, since its establishment in 1992. Awraq Investments combines local and regional expertise with international practices to create investment opportunities locally, regionally and internationally.
In 2014, CAB launched its financial leasing arm, Tamallak Leasing Company, which is incorporated as an independent company to provide financial leasing services as an alternative financing option for individuals and corporates, covering all the economic sectors.
CAB also owns “Safa Bank”, an Islamic bank in Palestine operating in accordance with the provisions of the Islamic Shariah in its Ramallah branch. CAB owns 79% of the bank’s capital, and the bank provides financing for residence, vehicle, and commodities in the form of reliable Islamic structures. Safa currently has 7 branches (including the headquarters), and 2 offices.
CAB’s total assets and shareholders’ equity amounted to around JOD 3,134 million and JOD 359 million respectively in 2019. By the end of 2020, the bank maintained a strong capital base with a capital adequacy ratio of around 18.1%. Moreover, CAB sustains a high level of confidence among its stakeholders attributable to high liquidity levels that conform to international standards.