Bank al Etihad

Bank al Etihad was founded in 1978 as a public shareholding company, and has been moving steadily towards boosting its financial status and profitability. The bank continues to implement its calculated strategy of client base expansion, risk diversification through widening its range of services and targeting groups from both the retail and corporate sectors. The bank attracts a qualified team of young Jordanian professionals and combines a team of experts working relentlessly to further enhance the bank’s overall achievements, striving for more progress and prosperity to achieve the bank’s ambitious objectives for the coming years.
Profile
During 2010 and 2011, the bank launched a number of strategic projects to embody the up-to-date base of banking services. These projects are meant to develop retail banking services at large which is one of the best banking systems as chosen by renowned advisory and research firms such as GARTNER. In addition, the bank developed its new corporate identity, enhanced the business environment in branches and the level of its services, and expanded its network by opening 10 new branches.

With a capital of JOD 100 million and a capital base of JOD 235 million, Bank al Etihad became the fourth-largest bank in Jordan in terms of total shareholders’ equity by the end of 2010. Moreover, the bank’s capital adequacy ratio of 18.75% exceeds the organizational requirements set by the Central Bank and Basel Committee by 12% and 8% respectively. The bank achieved the highest growth rates of both deposits and facilities in the banking sector in recent years.
The bank’s achievements in 2010 indicate that it made a total profit of JOD 21.3 million after tax deductions and allowances, with an increase of 30.8% in comparison with 2009. The bank’s total assets reached JOD 1.539 million, as it increased by JOD 82.8 million with a growth rate of 5.7% when compared with 2009.
Bank al Etihad is currently operating a network of 24 branches distributed across Jordan, and 1 branch in Ramallah, Palestine. The number of branches is expected to reach 34 by the first quarter of 2012. In addition, the bank owns a brokerage firm, centers for investment and trading equities and a central exchange unit that are key players in the market.
Throughout the years, Bank al Etihad succeeded in providing traditional services across many banking sectors, especially in corporate banking services. The bank further contributed in funding a number of projects that benefit the economy, and society at large in vital sectors including energy in general, electricity, and renewable energy, water and treatment, higher education, tourism, industry, and others. Such contributions helped boost development and the national economy.
The bank’s unique identity and determined efforts help maintain its growth and prominent status in many fields and sectors. In the process of expanding its client base and risk diversification the bank collaborated with Mckinsey & Co., one of the world’s most renowned banking consultants to develop the bank’s strategy based on its traditional strengths in sectors of competitive advantage. Such strategy aims at expanding to new target segments in retail, individuals, medium and small enterprises, providing a new set of services and products that cater to the clients’ needs, realizing the banking industry’s latest innovation, and tailoring products to fulfill the needs of the targeted sectors.
With its new corporate identity launched on the 21st of September 2011 Bank al Etihad central driving thought is to help clients make “The bright choice” and to craft a brighter future for them. With the launch of this new corporate identity, key values have been developed and committed to drive the whole business culture and to assure delivering the best customer service experience, these include authenticity, Integrity, flexibility, individuality, passion, dependability, partnership and security.

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