In 1976, a number of Jordanian and Kuwaiti investors had the idea that if they brought in capital from a wealthy country, like Kuwait, and invested it wisely in a country that is renowned for its highly developed workforce, like Jordan, something good must come out, and sure it did. Today, Jordan Kuwait Bank is considered one of the few successful Jordanian enterprises established with Inter-Arab interests.
After more than 40 years of banking activities, steady expansion efforts and modernization plans, the Bank has become a well-established, highly prestigious and deeply rooted banking institution, boosting a network of more than 61 branches strategically located throughout Jordan and four branches in Palestine and a branch in Cyprus enabling the Bank’s clients to carry out all their financial transactions inside and outside of Jordan swiftly, efficiently and with the highest levels of quality.
The development of the Bank's capital
The Bank’s paid-up capital was gradually increased from JD 5 million at establishment to JD 8.5 million in 1991, to JD 10 million by end of 1994 and to JD 20 million in 1997. Then in 2001, the paid-up capital was increased to JD 25 million and then to JD 31.25 million in 2004. In 2005, the capital was increased to JD 40 million and then to JD 75 million in 2006 and finally to JD 100 Million in 2008.
Cyprus Branch History
In the Bank’s endeavor to facilitate the flow of trade between Jordan and other countries and aim to serve the needs of corporate and individual clients who have financial interests in Europe. JKB established Jordan Kuwait Bank –Cyprus Branch in the Republic of Cyprus on 31 May 2001 – under license by the Central Bank of Cyprus as an International Banking Unit, commencing operations on 1st September 2001. As from 2nd January 2006 Jordan Kuwait Bank –Cyprus Branch operates as an onshore branch following the various legislative changes connected with Cyprus`s accession to the European Union on 1st May 2004. The main objective of this branch is to serve the Bank’s clients with regard to their foreign banking needs, as well as to serve international companies with regard to their commercial and trade relations with Jordan, Cyprus and the surrounding countries. Cyprus branch offers commercial and retail banking services such as short & long term lending, deposit keeping and trade finance services, as well as placements and borrowing services provided to Jordan Kuwait Bank - Head Office and other international banks.