Bank of Jordan: Saudi market ‘key pillar’ of growth strategy

Zaher Muala, CEO of Bank of Jordan

Zaher Muala, CEO of Bank of Jordan’s branch in Saudi Arabia, said the bank’s entry into the Saudi market represents a key pillar of the group’s strategy for growth and regional expansion, rather than merely an option for geographic presence.
 
In an interview with Argaam on the occasion of the bank’s branch opening in the Kingdom, Muala said the Saudi economy is a major regional hub, while the banking sector plays a fundamental role in supporting various economic sectors, making a presence in the Kingdom important from a long-term sustainability and growth perspective.
 
The branch’s strategy is centered on building a sound and diversified asset and financing portfolio covering various sectors, while taking into account the characteristics of the local market and the requirements of each customer segment, according to the top executive.
 
Muala also noted that business-sector classifications, including those related to SMEs, vary from one market to another. Accordingly, the bank’s strategy in Saudi Arabia has been designed to align with the characteristics of the Saudi economy and the requirements of the local market.
 
He said the portfolio will be built gradually under a strategic plan spanning the next three to five years, taking into consideration liquidity requirements, capital adequacy and leverage, while emphasizing that the priority is to build a sustainable business capable of delivering long-term growth.

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