Mubasher: Societe Generale de Banque - Jordanie (SGBJ) has completed the acquisition of First Abu Dhabi Bank’s (FAB) business in Jordan.
FAB-Jordan will start its operations with the new trademark of Societe Generale de Banque as of Sunday, 18 November, according to a statement to the Amman Stock Exchange.
The French bank further noted that its acquisition of the UAE lender's unit is part of its expansion plans in Jordan.
On 12 July, FAB inked a contract with SGBJ to sell its National Bank of Abu Dhabi (NBAD) Jordan business operations to SGBJ.
The amount of the acquisition transaction was not revealed.
