Global Investment House “Global” announced today that it has acquired a 22% stake in the Jordan-based bank Societe Generale De Banque – Jordanie.
Global’s Vice Chairman and Managing Director, Mrs. Maha K. Al-Ghunaim, said, “the transaction should be seen as a major milestone in Global’s expansion into the MENA region, and was in line with a strategic decision taken by Global to strengthen its presence in the region”.
“The bank provides financing, investment banking, and portfolio management services and is currently operating in Jordan with 13 branches spread over Jordan,” she added.
She affirmed that Global has always been selective when focusing on asset growth and its quality of investments.
More importantly, Jordan has seen a significant turnaround in its economy, which has led to many foreign investors to invest.
Therefore, Global’s investment into the bank is a vital link for Societe General Banque between the GCC region and the neighboring and emerging markets in the Gulf, the company’s executive pointed.
“We are currently looking into expanding into key emerging markets, and this comes as one of the many steps taken by Global to achieve its expansionary goals,” Al-Ghunaim said.
Last year, the company launched an independent sister company, Global-Jordan, which manages pre-and-post opening investment projects in Jordan.