Jordan Kuwait Bank (JKB) is a Jordanian public shareholding company, founded in 1976 as the country’s 5th national commercial bank that has successfully evolved into a major player in the Jordanian banking system over the years with consolidated assets of US $ 7.4 Billion as of 31 December, 2023.
The bank currently operates a domestic network of 64 branches, distributed throughout Jordan in addition to a branch in Cyprus.
JKB is the sole proprietor of Ejara Leasing Company, and exercises significant influence over United Financial Investment (UFICO) holding a majority ownership stake of 78.3%. During February 2023, JKB completed the deal of acquiring 53.4% of Bank of Baghdad “BoB” Capital.
JKB also has investments with board representation in Algeria Gulf Bank (Algeria), Quds Bank (Palestine) and Middle East Payment Services (Jordan).
JKB capitalizes on its outstanding capabilities to provide services that encompass commercial and investment banking, in addition to other business-related services.
JKB also capitalizes on the strong business and ownership relations with Kuwait Projects Company Holding (KIPCO) and its banking and investment arms in the MENA region. Its major shareholders are Al Rawabi United Holding Co. (Kuwait), a fully owned subsidiary of Kuwaiti Projects Company Holding (KIPCO), the Social Security Corporation (Jordan), and Odyssey Reinsurance Company (USA), a fully owned company of Fairfax Financial Holdings, holding 50.92%, 21% and 5.85% of the bank’s capital respectively.
JKB was the first bank in Jordan to introduce electronic delivery and service channels. Its hi-tech infrastructure, widely spread branches, ATMs and ITMs, efficient e-banking products and services, Internet and mobile banking facilities that provide access to external payment systems are all topped with a unique customer-friendly atmosphere.
This infrastructure has enabled the bank to further enhance its image as the best client-focused bank in Jordan and substantiated its slogan of “More than just a bank.”
In 2023, Jordan Kuwait Bank earned several prestigious awards, underscoring its commitment to excellence in various domains.
Euromoney magazine honored the bank with the "Best Domestic Private Bank in Jordan," recognizing its global standing for elevating services for private banking clients. Global Banking and Finance Review granted the bank the "Best Bank for Corporate Social Responsibility in Jordan in 2023," applauding its dual achievement of community development and financial growth.
Moreover, The Global SME Finance Forum acknowledged the bank's commitment to sustainability by awarding it the "Green Bond of the Year" accolade, lauding its integration of sustainable strategies into its operations.
Furthermore, JKB was honored with the title of "Best Green Project Financing Bank in Jordan" by International Finance Magazine. Lastly, The Banker, a respected publication within the Financial Times Group, bestowed upon the bank the esteemed "Bank of the Year in Jordan" title.
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