In what represents an innovative step in the field of local home loans

Amman, February 2010 – Stemming from its strategy targeted at providing the domestic market with unprecedented banking services and products, especially in the field of real estate loans, and in accordance with the various banking and investment needs of its clients, Capital Bank announced the launch of its new program for home loans called, the “Capital Home Loans” Program, which includes a number of unique and advanced features.

Commenting on this Program, Mr. Haytham Kamhiyah, Capital Bank's General Manager, said: “The launch of the “Capital Home Loans” Program in line with our belief in the important role that real estate loans play in supporting the operations of various economic sectors, specifically the real estate and construction sectors and the banking sector in general. I hope that the variety of real estate loans offered by Capital Bank will help activate the sector, and I would like to highlight here the capabilities of the Jordanian market and Capital Bank in harnessing a large number of investment projects and funding them according to the needs of different clients.”

Mr. Kamhiyah added: “Capital Bank recently reduced its prime rate to 8%, which reflected positively on the home loans within ‘Capital Home Loan’ Program which will start at 7.99%. We are placing this Program, in addition to our other comprehensive banking and investment services, within the reach of all Jordanian citizens through our network of branches across the Kingdom. We take into consideration all the aspects related to our positive relationship with our clients in order to preserve the trust that they have placed in us, which has become our motivator for remaining their number one choice for unique and valuable products and services.”

Commenting on this pioneering product, Mr. Ziad Fatayer, Assistant General Manager of the Retail banking at Capital Bank, said: “Our aim through the launch of ‘Capital home Loans’ Program in its new form, is to make the experience of our clients a valuable and enjoyable one, by offering unique loans that boast easy procedures and regulations for all people from the public and private sectors, professional industries, private businesses, foreigners, and expatriates. The program also funds those who are benefiting from the Decent Housing for Decent Living Initiative in accordance with the Hashemite vision to support citizens with low and limited incomes to purchase housing that is in line with their income range in order to elevate their standards of living.”

Mr. Fatayer added: “’Capital Home Loans’ Program is distinguished by its unlimited ceiling, its competitive interest rates starting from 7,99%, and its loan term up to 30 years with no need for a guarantor. Those benefiting from the Program receive free life and property insurance, the possibility of receiving more than one loan simultaneously, in addition to the ability to buy home loans from other banks. ‘Capital Home Loans Program funds the construction, purchase and the renewal of residential units in addition to building and purchasing offices for professionals it also funds the purchase of land. “

About Capital Bank
Capital Bank has been steadily expanding its operations since its inception in 1995, positioning itself today as the third largest bank in the Kingdom in terms of authorized capital, which amounts to JOD 132.8 million / shares. The bank's capital ratio exceeds the Basel Committee's and the Central Bank of Jordan's requirements and its operational efficiency is considered to be one of the best in the market.
Distinctly characterized by its financial stability, Capital Bank achieved the highest level of growth in deposits, which grew by 27% during the first half of the current year, reaching JOD 632 million. In addition, the bank boasts a high liquidity ratio to the Jordanian Dinar, which amounts to 140.4% compared to the 70% requirement of the Central Bank of Jordan. The bank also achieved the highest asset growth, which exceeded the JOD 1 billion mark at the end of the first half of the current year.
Capital Bank's ambitious and highly-qualified human resources and management team have achieved several successes that have yielded exceptional results in several fields, one of which is that it received the fourth best credit classification in Jordan from the Capital Intelligence organization.

This news release has been distributed by Bidaya Corporate Communications on behalf of Capital Bank.
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