JORDAN KUWAIT BANK
To: Jordan Securities Commission, | ﺔﻴﻟﺎﻤﻟﺍ ﻕﺍﺭﻭﻻﺍ ﺔﺌﻴﻫ ﺓﺩﺎﺴﻟﺍ |
Amman Stock Exchange | ﻥﺎﻤﻋ ﺔﺻﺭﻮﺑ ﺓﺩﺎﺴﻟﺍ |
Company's Name: JORDAN KUWAIT BANK | ﻲﺘﻳﻮﻜﻟﺍ ﻲﻧﺩﺭﻻﺍ ﻚﻨﺒﻟﺍ :ﺔﻛﺮﺸﻟﺍ ﻢﺳﺍ |
Date: 10-01-2023 10:30:32 AM | AM 10:30:32 2023-01-10 :ﺦﻳﺭﺎﺘﻟﺍ |
Subject: Acquiring Significant Share in Bank of Baghdad | ﻑﺮﺼﻣ ﻝﺎﻣ ﺱﺃﺭ ﻦﻣ ﺓﺮﺛﺆﻣ ﺔﺼﺣ ﻰﻠﻋ ﺫﺍﻮﺤﺘﺳﻹﺍ :ﻉﻮﺿﻮﻤﻟﺍ |
ﺩﺍﺪﻐﺑ | |
Reference to Jordan Kuwait Bank disclosure dated June 26 | ﻥﺍﺮﻳﺰﺣ 26 ﺦﻳﺭﺎﺗ ﺏ ﻲﺘﻳﻮﻜﻟﺍ ﻲﻧﺩﺭﻷﺍ ﻚﻨﺒﻟﺍ ﺡﺎﺼﻓﺇ ﻰﻟﺍ ﺓﺭﺎﺷﻹﺎﺑ |
th, 2022 on its Board of Directors' decision to proceed | ﺀﺍﺮﺷ ﺕﺍﺀﺍﺮﺟﺈﺑ ﺮﻴﺴﻟﺍ ﺭﺍﺮﻗ ﻪﺗﺭﺍﺩﺇ ﺲﻠﺠﻣ ﺫﺎﺨﺗﺇ ﻝﻮﺣ 2022 |
with the acquisition of an influential stake in Bank of | ﻰﻟﺍ ﺎﻬﺘﻴﻜﻠﻣ ﺩﻮﻌﺗ ﻲﺘﻟﺍﻭ ﺩﺍﺪﻐﺑ ﻑﺮﺼﻣ ﻝﺎﻣ ﺱﺃﺭ ﻲﻓ ﺓﺮﺛﺆﻣ ﺔﺼﺣ |
Baghdad paid-up, which is owned by Burgan Bank, we | ﻚﻨﺒﻟﺍ ﺔﻘﻓﺍﻮﻣ ﻰﻠﻋ ﻚﻨﺒﻟﺍ ﻝﻮﺼﺤﺑ ﻢﻜﻣﻼﻋﺇ ﺩﻮﻧ ،ﻥﺎﻗﺮﺑ ﻚﻨﺑ |
would like to inform you that the Bank obtained Central | ﺀﺍﺮﺸﺑ ﻡﺎﻴﻘﻟﺍ ﻰﻠﻋ ﻲﻗﺍﺮﻌﻟﺍ ﻱﺰﻛﺮﻤﻟﺍ ﻚﻨﺒﻟﺍﻭ ﻲﻧﺩﺭﻷﺍ ﻱﺰﻛﺮﻤﻟﺍ |
Bank of Jordan and the Central Bank of Iraq approvals on | ﺓﺮﺘﻓ ﻝﻼﺧ ﺀﺍﺮﺸﻟﺍ ﺔﻴﻠﻤﻋ ﺬﻴﻔﻨﺗ ﻊﻗﻮﺘﻤﻟﺍ ﻦﻣﻭ ،ﻩﻼﻋﺃ ﺔﺼﺤﻟﺍ |
this transaction, and expected to be executed shortly. | .ﺓﺮﻴﺼﻗ |
Jordan Kuwait Bank intends - upon obtaining regulatory | ﻰﻠﻋ ﻝﻮﺼﺤﻟﺍ ﺪﻌﺑﻭ - ﻲﺘﻳﻮﻜﻟﺍ ﻲﻧﺩﺭﻷﺍ ﻚﻨﺒﻟﺍ ﻡﺰﺘﻌﻳﻭ ﺍﺬﻫ |
approvals - to issue Tier 1 capital bonds (additional | ﻝﻭﻷﺍ ﻖﺸﻟﺍ ﻝﺎﻤﻟﺍ ﺱﺃﺭ ﺕﺍﺪﻨﺳ ﺭﺍﺪﺻﺇ - ﺔﻴﺑﺎﻗﺮﻟﺍ ﺕﺎﻘﻓﺍﻮﻤﻟﺍ |
capital) with a maximum amount of JD 85 million (or its | ﺎﻣ ﻭﺃ ﻲﻧﺩﺭﺃ ﺭﺎﻨﻳﺩ ﻥﻮﻴﻠﻣ 85 ﻰﺼﻗﺃ ﺪﺤﺑ (ﻲﻓﺎﺿﻹﺍ ﻝﺎﻤﻟﺍ ﺱﺃﺭ) |
equivalent in US Dollars), noting that these bonds will be | ﻚﻠﺗ ﻒﻴﻨﺼﺗ ﻢﺘﻴﺳ ﻪﻧﺄﺑ ﺎﻤﻠﻋ ،ﻲﻜﻳﺮﻣﻷﺍ ﺭﻻﻭﺪﻟﺎﺑ ﺎﻬﻟﺩﺎﻌﻳ |
classified within the additional capital AT1. | . AT1 ﻲﻓﺎﺿﻹﺍ ﻝﺎﻤﻟﺍ ﺱﺃﺭ ﻦﻤﺿ ﺕﺍﺪﻨﺴﻟﺍ |
This step comes as part of Management's strategy to | ﺰﻳﺰﻌﺘﺑ ﻚﻨﺒﻟﺍ ﺓﺭﺍﺩﺇ ﺔﻴﺠﻴﺗﺍﺮﺘﺳﻹ ﺍﺬﻴﻔﻨﺗ ،ﺓﻮﻄﺨﻟﺍ ﻩﺬﻫ ﻲﺗﺄﺗﻭ |
enhance the Bank's performance and financial position, in | ﻮﺤﻧ ﻰﻠﻋ ﺎﻴﻤﻴﻠﻗﺇ ﻊﺳﻮﺘﻟﺍ ﻰﻟﺍ ﺔﻓﺎﺿﻹﺎﺑ ،ﻲﻟﺎﻤﻟﺍ ﺰﻛﺮﻤﻟﺍﻭ ﺀﺍﺩﻷﺍ |
addition to expanding regionally, contributing towards a | ﺡﺎﺼﻓﻹﺍ ﺍﺬﻫ ﻲﺗﺄﻳﻭ .ﻚﻨﺒﻟﺍ ﺕﺍﺩﺍﺮﻳﺇ ﺭﺩﺎﺼﻣ ﻊﻳﻮﻨﺘﺑ ﻢﻫﺎﺴﻴﺳ |
diversification in the Bank's revenue sources. | ﺡﺎﺼﻓﻻﺍﻭ ﺔﻴﻓﺎﻔﺸﻟﺍ ﺕﺎﻳﻮﺘﺴﻣ ﻰﻠﻋﺄﺑ ﻚﻨﺒﻟﺍ ﻡﺍﺰﺘﻟﺍ ﻰﻠﻋ ﺪﻴﻛﺄﺘﻠﻟ |
This disclosure aims to confirm the Bank's commitment to | .ﺔﻘﻔﺼﻟﺍ ﻩﺬﻬﺑ ﺔﻘﻠﻌﺘﻤﻟﺍ ﺕﺍﺪﺠﺘﺴﻤﻟﺍ ﻦﻋ |
the highest levels of transparency and we will be | |
disclosing any developments related to this transaction. | |
The Board of Directors authorized the Bank's Chief | |
Executive Officer to proceed with the procedures related | |
to the aforementioned acquisition. | |
Please accept our sincere thanks and appreciation. | .ﻡﺍﺮﺘﺣﻻﺍ ﻖﺋﺎﻓ ﻝﻮﺒﻘﺑ ﺍﻮﻠﻀﻔﺗﻭ |
Chairman of Board of Directors | ﺓﺭﺍﺩﻹﺍ ﺲﻠﺠﻣ ﺲﻴﺋﺭ |
User Name: Ala Y. J. Hijazin | Ala Y. J. Hijazin :ﻡﺪﺨﺘﺴﻤﻟﺍ ﻢﺳﺍ |
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Jordan Kuwait Bank cO. PSC published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2023 07:46:04 UTC.