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Al Rajhi Bank opens 2 branches in Jordan

Riyadh, March 22, 2011

Al Rajhi Bank, Saudi Arabia's biggest Islamic bank, has opened two branches in Jordan and is planning to open more, it said on Tuesday, as part of its regional expansion plan.

'The Jordanian market is the third market in which the bank offers its services and products after Malaysia and Kuwait ... and God willing will have a positive impact on the bank's profits in the future,' it said in a statement.

The Islamic lender said last year it would have five branches in Jordan within one year and expected Jordan to become Al Rajhi's second biggest foreign market, after Malaysia, by the end of the first quarter of 2011.-Reuters

Tags: Saudi Arabia | Jordan | investment | Islamic Finance | Al Rajhi Bank |

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