No. 14



Jordan National Bank Buys 85% Stake In Lebanon Kuwait Bank

Jordan National Bank (JNB) has purchased an 85% stake in Lebanon Kuwait Bank. The stake, which cost JNB $22mn, will give the Jordanian bank control over five branches of Lebanon Kuwait Bank, with the remaining shares continuing to be held by Lebanese investors. According to the Arabic daily Al-Hayat on 15 March, the agreement for the acquisition was signed by the JNB chairman Rajai Mu'ashir and...