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Ammon News - The investment bank declared the subscription process for increasing its capital successful, achieving a coverage rate of 94.1% and a total value of 25 million Jordanian dinars.

Upon the finalization of this subscription, the total investment capital will rise from 100 million dinars to 125 million Jordanian dinars.

This accomplishment reflects the work put into strengthening the bank's financial capabilities and advancing its strategic initiatives, leading to solidifying its prominent status in the banking industry. It also allows for the expansion of services and products to meet customer and shareholder expectations.

In July of last year, the bank revealed its plan to boost its capital in order to improve its financial strength and back its growth strategies. The Board of Commissioners of the Jordan Securities Commission approved the increase in capital on September 25, 2024.

During this event, Fahmi Abu Khadra, the Chairman of the Bank's Board of Directors, extended gratitude to the shareholders for their trust and backing. He noted that the successful subscription process indicates shareholders' faith in the Bank's future plans and dedication to sustainable growth. He reiterated the Bank's focus on delivering optimal outcomes for both shareholders and customers.

Abu Khadra acknowledged the contributions of the United Financial Investments Company team as the issuance manager, the Jordan Kuwait Bank as the subscription bank, and the support from regulatory authorities including the Central Bank of Jordan, the Jordan Securities Commission, and the Amman Stock Exchange.

The investment bank saw robust financial performance in the third quarter of 2024, with net profits rising to 21.5 million Jordanian dinars from 19.2 million dinars in the same period last year.