Standard Chartered agrees to sell business in Jordan

, the two parties said on Sunday, as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East.

All Standard Chartered Bank employees in Jordan will be transferred to AJIB, it said an emailed statement. AJIB said the purchase falls within the Jordanian lender's strategy to grow its market share in the country, which continues to grow after it acquired HSBC's banking business in Jordan in 2014 and National Bank of Kuwait's banking business in Jordan in 2022.

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Standard Chartered enters agreement to sell business in Jordan - statementStandard Chartered said on Sunday it plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB) , as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East. Standard Chartered wants to sell business in Nepal too. As Mark Twain said 'I wanted to write you a short note but only had time to write a long note' This article needs to be rewritten at least once more.
Source: Reuters - 🏆 2. / 97 Read more »