In support of SME’s throughout the Kingdom

Amman, May 2010 – Capital Bank announced its sponsorship of the Jordan Industries Local Buyers Forum that was conducted to support the marketing and availability of Jordanian products in the local market. The Forum, which was organized by the Jordan SME’s Association, was held for the first time in Jordan on Monday the 12th of April at the Meridian Hotel in Amman and was attended by representatives from 200 private and public institutions related to market trade.

Capital Bank’s support to this event stems from its belief in the importance of supporting the manufacturing of local products and the SME sector that plays an important role in the economic development process, the provision of new job opportunities and its contribution to economic growth. The Forum aimed at bringing together national institutions, companies and SMEs to exchange views on the developments in the products market and how to support companies and elevate their business towards achieving success. The event also comprised of a sample exhibition by national companies participating in the Forum representing different sectors including the food, cleaning products, beauty products, and personal care products sectors amongst others.

During the Forum, Mr. Haytham Kamhiyah, Capital Bank’s General Manager, spoke about supporting local manufacturers, the importance of the SME sector and the vital role it plays in developing the national economy. Mr. Kamhiyah also referred to Capital Bank’s support to this sector through the provision of services and products that are unique, flexible and competitive.

Commenting on this participation, Mr. Kamhiyah said: “We would like to thank the Jordan SME’s Association for organizing this national forum that greatly contributed to different SME’s across the Kingdom in becoming better acquainted with the promising opportunities that are on offer. Capital Bank places a special focus on supporting and creating innovative services that cater to the different needs of this sector, which is one of the biggest sectors in the Kingdom and largely contributes to the GDP. We are hoping through the SME Department at Capital Bank to provide financial consulting and financing to these companies so they are able to benefit from these investment opportunities. We also hope to encourage them to develop their businesses, elevate their productivity and increase their competitiveness to strengthen the presence of local products in external competition and increase marketing opportunities for products that are made in Jordan.”

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 150 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 second highest level of growth in deposits for 2009, which grew by 28% reaching JOD 680 million in comparison to 593 million in 2008. In addition, the bank boasts a high liquidity ratio to the Jordanian Dinar, which amounts to 151% compared to the 70% requirement of the Central Bank of Jordan. The bank also achieved the high asset growth, which exceeded the JOD 1 billion mark at the end of 2009 in comparison to JD984 million in 2008 recording a 9% growth.

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 a BBB credit rating by Capital Intelligence according to its January 2010 report.

This news release has been distributed by Bidaya Corporate Communications on behalf of Capital Bank.
For more information or assistance please contact us on the below number:

Tel: +962 6 5692008/9
Fax: +962 6 5692007
P.O.Box: 930391, Amman 11193, Jordan
E-mail: media@bidayacorp.com