The EBRD has provided a subordinated loan of JOD 21.3 million to Bank Al Etihad ("BAE") to support the bank's growth plans and on-lending to private local SMEs.
The subordinated loan will strengthen the capital base of BAE to support planned growth and the financing of SMEs in the local market.
ETI score: 60
The subordinated loan will strengthen the capital base of BAE. The financing will increase the availability of bank finance to private SMEs, an underserved market segment, thereby improving SMEs access to finance.
Bank Al Etihad ("BAE") is a universal commercial bank and is the 4th largest in Jordan with market shares of 6.3%, 6.9% and 7.0% in terms of assets, loans and deposits as at 1Q19. Bank Al Etihad was established in 1978 and listed on the Amman Stock Exchange. BAE serves to corporate, SME, and retail clients through its 47 branches cross Jordan.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014). BAE has been satisfactorily implementing the Bank's E&S requirements under existing exposure and has submitted regularly Annual Environmental Reports. The bank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, apply the EBRD's E&S Risk Management Procedures for SME and Micro Loans and report annually to the EBRD on implementation of the Procedures and the PRs.
Technical Cooperation and Grant Financing
BAE is expected to benefit from tailored technical assistance support to assist with reviewing and strengthening the bank's recovery plan, to ensure compliance with the local regulatory requirements and to be in line with international best practices.
Company Contact Information
Mr. Anas Al Masri
PSD last updated
16 Dec 2019
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