The Jordanian banking and financial group, Arab Bank Plc, will soon acquire 50.08% stake in the capital of UBCI (Banking Union for Trade and Industry) held by the French Group, BNP Paribas.
In this context, a delegation of the Jordanian group went to the headquarters of UBCI last week to negotiate the acquisition.
Arab Bank Plc is not moving into unknown territory in Tunisia. The bank is present in the country through the Arab Tunisian Bank (ATB) where it holds a 64.24% stake.
Also, such a merger between the two institutions will make the new entity, the third bank of the place in terms of GNP and equity and the 1st by the network of agencies. It should be noted that the UBCI achieved a net income of $ 75.5 million in 2018 and a profit before tax of $ 116.6 million.
The Jordanian group has the largest Arab banking network in the world, with more than 600 branches in 28 countries. The Bank’s products and services include retail banking, corporate, institutional, private banking and treasury services.
In 2018, the size of the group’s loans amounted to $ 25.8 billion, while customer deposits amounted to $ 34.3 billion. The group achieved a turnover (equivalent of GNP) of 2.13 billion dollars and a GNP of 820 million dollars.
