Capital Bank announces its new name and identity

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The new brand identity and logo reflects the bank's current & future strategic vision of advancing its services to all sectors of society.

On this occasion, Mr. Haytham Kamhiyah, Capital Bank's General Manager said:

'Our new corporate identity will represent our company and its services as a young and modern entity. Yet all core elements of the organization will remain the same. Capital Bank will continue to provide its customers and partners with specialized, first-class services and play a leading role in Jordan's development and growth.'

Mr. Kamhiyah explained that the new identity emerged as a result of a 'self-assessment and improvement' process the bank recently undertook. This change he elaborated is in line with the rapid growth of Capital Bank and the development of the Jordanian banking sector in. The bank aims at creating new competitive services in light of local and international advancements and developments.

On this occasion, Mr. Kamhiyah gave a short brief about the bank's history and its accomplishments. Export & Finance Bank was established in 1996 with a paid-up capital of JD 20 million ($25.6 million). It started its operations as a provider of corporate and investment banking services. The bank offered its services in accordance with its basic strategy of attempting to link trade and project finance with capital markets in order to ensure a full service approach to the bank's client base. The bank's capital has been gradually raised throughout the years to reach JD116 million in 2006.

Mr. Kamhiyah mentioned that Capital Bank recorded a net income of around JD 10 million in the first half of 2006; the bank's financial results reflect the bank's ability to diversify its sources of income in order to avoid the decline in the revenues of local and regional financial markets. Capital Bank was able to maintain the same profit levels as last year by relying on interests and commissions as its main income.

The bank's consolidated financial data for the 6 month period ending 30th of June 2006 revealed that total assets stood at JD 886.1 million compared with JD 698.4 million at the end of December 2005, with a growth rate of 27%.

Mr. Kamhiyah added: 'Capital Bank prides itself on the distinguished achievements it realized in the field of commercial services. Our achievements and continuous successes are attributed to the highly competent and experienced team who is dedicated to support any change.'

Mr. Kamhiyah stated that the bank acquired a distinctive competitive feature in its comprehensive banking and financial services, especially retail services. He added that the bank, which expanded its line of business a few years ago to involve offering personal banking services, now, plays a major competitive role in the retail-banking sector. The customized retail services the bank provides today fulfill the needs of different sectors of society by providing an array of loans such as housing loans, car loans and personal loans. Among the new exceptional loans the bank offers are solar heater loans, scooter loans, land loans, and boat & Jet Ski loans.

Regarding Capital Bank's new identity and logo, Mr. Kamhiyah elaborated: 'Capital Bank adopted a new identity and logo that better reflects the bank's strategy and variety of services offered. The bank has grown and expanded into new markets, it currently offers an extensive range of corporate, personal & investment banking services. The new logo depicts the bank values and aspirations through the star that stands for development, reaching higher levels, hope, dreams, optimism and turning the impossible into possible. The blue color, the color of the sea and sky, reflects endless possibilities, change and development; it also gives a sense of security. Silver on the other hand stands for progress and innovation and reflects excellence and uniqueness. All in all the new logo symbolizes the bank's determination in introducing new innovative services and endless possibilities.'

Capital Bank's branches are spread in different areas across Jordan. New branches will be opened as part of the bank's local expansion plan to achieve a high level of competitiveness and to play an active and vital role in the banking sector locally and regionally. Two new branches will soon open in Al Madena Al Munawara Street and in the port city of Aqaba. The branches are currently under construction and the staff is being trained. The bank is currently in the process of locating two other branches, to increase the number of branches to 11 by the end of the year.

Mr. Kamhiyah also announced that Capital Bank will carry out all its investment banking & brokerage services through Capital Investments, a fully owned subsidiary of the bank that offers its clients a wide array of corporate finance, research, asset management and brokerage services. Capital Investments will be run independently from the bank under the umbrella of Capital Group, which also owns The National Bank of Iraq and is working on the establishment plan of Capital Tower. Capital Tower is the largest tower envisioned in the mega Abdali urban regeneration project and consists of 51 floors.

Mr. Kamhiyah explained that Capital Bank aims at remaining active in the economic and social arenas and contributing to environment-related projects. The bank, believing in the importance of comprehensive development of the local community, will continue to work with less fortunate sectors to elevate their living standards.