Top Banks in Jordan

An overview of Jordan's leading banks

Overview of Banks in Jordan

Banks in Jordan are the strongest segment of the country’s financial services industry. In 2015, the Kingdom’s banking system accounted for 18.82% of GDP, so it is considered one of its largest economic sectors. It began in 1948 when Arab Bank moved its main office from Jerusalem to Amman.

The Central Bank of Jordan (CBJ) is an independent, autonomous corporate body that maintains the safety of the banks in Jordan, issues and regulates banknotes and coins, and maintains and manages the Kingdom’s gold reserves and foreign exchange.

 

Banks in Jordan

 

Moody’s Investors Service maintains a stable outlook for Jordan’s banking industry in late 2020. However, the coronavirus shock aggravated its credit challenges, in particular the government’s elevated debt burden and social pressures stemming from weak growth and high unemployment. The decision to affirm the ratings takes into account credit supports such as the government’s sustained commitment to economic reforms and to medium-term fiscal consolidation, namely in the context of the new IMF program.

For anyone considering a career in banking in Jordan, this list of top banks in Jordan is a helpful guide on where to start. To learn more, see all our lists of financial institutions.

 

The Top Banks in Jordan are:

 

Bank of Jordan

Bank of Jordan is a commercial bank that was founded in 1960 and one of the largest banks in Jordan. The bank provides consumer and corporate banking, leasing, SME, and investment banking solutions to private and corporate clients through its more than 80 branches in Jordan and 16 branches in the West Bank and Gaza Strip areas. Its headquarters is in Amman.

Net income: JOD 35.8 million (2020)

Total assets: JOD 2.69 billion (3/2021)

 

Arab Bank

Arab Bank is the first private-sector financial institution in the Arab world. The bank was formed in 1930 in Jerusalem, Mandatory Palestine. It is one of the largest financial institutions in the Middle East, serving clients in over 600 branches located on five continents.

The company provides a wide range of banking services to individuals, corporations, government agencies, and other international financial institutions. It is also the largest bank in terms of market capital, accounting for 28% of the Amman Stock Exchange, making it a major economic driver not only in Jordan but also in the Middle East and North Africa.

Net income: USD 192.79 million (2020)

Total assets: USD 62.52 million (3/2021)

 

Cairo Amman Bank

With headquarters in Amman, Cairo Amman Bank is a full-service bank that operates in 93 branches in Jordan and 22 branches in the Palestinian territories. It is one of the largest banks in Jordan in terms of assets and the third-biggest based on the number of branches in the Palestinian territories.

Cairo Amman Bank was established as a public shareholding company in January 1960. Six months later, it started offering banking services.

Net income: JOD 18.16 million (2020)

Total assets: JOD 3.35 billion (2020)

 

 Capital Bank of Jordan

The Capital Bank of Jordan private sector bank started its operations in 1995 as the Export & Finance Bank. It provides a comprehensive range of retail and corporate banking products and services in Jordan and Iraq. Headquartered in Amman, the bank manages 10 branches throughout the country. It also owns over 61% of the National Bank of Iraq.

Net income: JOD 25.96 million (2020)

Total assets: JOD 2.75 billion (2020)

 

Jordan Kuwait Bank

Jordan Kuwait Bank is a public shareholding company that plays a significant role in the country’s banking system. It was founded in 1976 with the aim of bringing capital into Jordan from Kuwait and other Arab countries.

The bank operates through 64 branches and offices throughout the country, four branches in Palestine, and a branch in Cyprus. It is also the first bank in the country to introduce internet banking and other electronic delivery channels.

Net income: JOD -4.51 million (2020)

Total assets: JOD 2.78 billion (3/2021)

 

Jordan Ahli Bank

Formerly known as Jordan National Bank, Jordan Ahli Bank was established in 1955, making it the sixth public shareholding company that was formed in the country. With headquarters in Amman, it provides a range of banking and brokerage services.

Net income: JOD 9.55 million (2020)

Total assets: JOD 2.85 billion (3/2021)

 

Arab Jordan Investment Bank

Founded in 1978, Arab Jordan Investment Bank currently operates through 33 branches and offices in the country and one branch in Cyprus. It is one of Jordan’s leading investment and commercial banks, providing a comprehensive set of banking services, including personal and housing loans, equity capital markets, mergers and acquisitions, transaction advisory services, and project and trade finance.

Net income: JOD 10.81 million (2020)

Total assets: JOD 2.2 billion (2020)

 

Jordan Islamic Bank

Established in 1978, Jordan Islamic Bank was the country’s first Islamic bank to offer all types of financing, banking, and investment solutions in compliance with the provisions of the Sharia Law, the religious law that forms part of the Islamic tradition. It owns a network of 83 branches and 25 banking offices throughout the Kingdom.

Net income: JOD 52.12 million (2020)

Total assets: JOD 4.97 billion (3/2021)

 

Bank al Etihad

Formerly called Union Bank, Bank al Etihad provides a wide range of banking solutions to corporate clients, SMEs, and retail segments. The financial and banking services institution is considered one of the kingdom’s fastest-growing banks, utilizing the latest technologies to provide not only personal and business banking but also Treasury and investment services.

Net income: JOD 23.57 million (2020)

Total assets: JOD 5.55 billion (3/2021)

 

Société Générale de Banque – Jordanie

Société Générale de Banque – Jordanie was founded in 1965 as a real estate investment company under the name REFCO. It provides retail, corporate, private, and investment banking, as well as asset management services. It is part of Société Générale de Banque au Liban group, which belongs to Société Générale, an international network that operates in 77 countries.

Net income: JOD 6.32 million (2020)

Total assets: JOD 1.58 billion (2020)

 

Careers in Investment Banking

To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map:investment banking careers For banking careers, you will have a significant edge over the competition with our financial modeling courses.

 

Additional Resources

This has been CFI’s guide to the top banks in Jordan. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:

  • Top Banks in Saudi Arabia
  • Top 100 Investment Banks
  • Walk Me Through a DCF
  • Financial Modeling Guide

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