Cairo Amman Bank (CAB) is one of Jordan’s leading financial institutions.
Since its establishment in 1960, as a public sharing holding company, CAB has been keen to enhance socioeconomic development both locally and regionally by servicing individuals, small and medium businesses, and large corporations across different segments. CAB serves its clients with a wide network of branches and innovative banking solutions, and offers a full range of products, services and solutions tailored to meet customers’ needs.
CAB operates a total of 92 branches in Jordan, 22 branches in Palestine and one branch in Bahrain. CAB’s advanced banking solutions are accessible through an ATM network of 256 machines, in addition to an array of digital services that include Internet Banking, Mobile Banking, and IRIS recognition among others. CAB is also well renowned for its IT infrastructure and capabilities in adopting new and exciting technologies to help attain its leading technological role in the Jordanian market.
By offering a wide variety of innovative banking solutions, CAB aims to deliver ease and convenience to customers. This is anchored by the fact that CAB holds a sizeable share of the retail banking segment, due to the trust and convenience offered to the bank’s clients. During 2020, CAB launched “Labeeb”, a chatbot completely equipped with artificial intelligence to address customers’ inquiries and to conduct transactions on command. The service received strong recognition in Jordan and set the base for advanced client engagement.
CAB also meets various corporate and SME financial needs through its broad range of products and services serving business and industrial sectors. The bank’s prudent credit policy and risk management practices have contributed to achieving excellent growth rates throughout the past years; this maintains the quality of the credit portfolio, keeping non-performing loans ratios below average in the market, in addition to sustaining a high provision coverage ratio.
With efforts to expand its client base and target niche segments in Jordan, the bank launched LINC, a subsidiary bank for the youth (aged 18-40). LINC operates through 7 digitized branches throughout universities in Jordan and other “youth focused” locations such as malls.
CAB also aims to create a separate trademark for its VIP clients. Signature, which will launch in early 2022, through 3 branches, and will serve high-networth individuals and large corporations from the private sector. Operations for both trademarks are in their initial phases, capturing clients and offering tailored products and services that directly accommodate the needs of the targeted segments.
Furthermore, the investment arm of CAB, Awraq Investments, is one of Jordan’s leading investment companies effectively providing investment solutions and brokerage services to its diverse client base, consisting of retail and corporate customers across different segments, since its establishment in 1992. Awraq Investments combines local and regional expertise with international practices to create investment opportunities locally, regionally and internationally.
In 2014, CAB launched its financial leasing arm, Tamallak Leasing Company, which is incorporated as an independent company to provide financial leasing services as an alternative financing option for individuals and corporates, covering all the economic sectors.
CAB also owns “Safa Bank”, an Islamic bank in Palestine operating in accordance with the provisions of the Islamic Shariah in its Ramallah branch. CAB owns 79% of the bank’s capital, and the bank provides financing for residence, vehicle, and commodities in the form of reliable Islamic structures. Safa currently has 7 branches (including the headquarters), and 2 offices.
CAB’s total assets and shareholders’ equity amounted to around JOD 3,353 million and JOD 367 million respectively in 2020. Moreover, CAB sustains a high level of confidence among its stakeholders, attributable to high liquidity levels that conform to international standards.