AMMAN: An advanced technological platform under a sophisticated five-year strategy will transform Jordan Ahli Bank into a highly developed provider of banking services.
This thrust was announced Sunday at a press conference to mark the 60th anniversary of Jordan Ahli Bank which was established in 1955 and opened its first branch in downtown Amman/Al Rida Street on June 14, 1956. Jordan Ahli Bank, the first national bank set up in [East] Jordan by founders Yousef Muasher and Suleiman Sukkar with a JD250,000 capital, the bank is now the Kingdom’s fourth largest with a JD175 million capital and 62 branches in Jordan, Palestine and Cyprus besides 117 automated teller machines (ATMs).
Total assets of the bank, which handles 390,000 accounts, amounted to JD2.3 billion at the end of the first quarter of this year. Total deposits and credit facilities reached JD1.9 billion and JD1.2 billion respectively. Marwan Awad, chief executive officer and general manager of Jordan Ahli Bank, told journalists that to keep up with technological developments, the T24 banking software system by Temenos was embraced because of its advanced technology and rich functionality.
Under the new 2015-2020 strategy, customer centricity will be the key to a sustainable future, Awad stressed. He added that Jordan Ahli Bank will also keep up with various needs by introducing diversified banking products. Awad indicated that the bank intends to focus on the Jordanian market and to expand its local share which he estimated to be 10-12 per cent at present.
He noted that there is no intention to raise the bank’s capital but revealed that the monetary authority in Palestine wants each bank under its jurisdiction to raise the capital by JD25 million over the coming three years.
