The Housing Bank for Trade & Finance expanded its branch network on a wide scale
The Housing Bank for Trade & Finance expanded its branch network on a wide scale in the Hashemite Kingdom of Jordan so as to enhance its distribution channels to effectively reach out to citizens in all the kingdom's provinces. Then, the Bank sought to offer its services in Palestine, where it inaugurated nine branches in the Palestinian National Authority areas .
Afterwards, HBTF started penetrating Arab markets. The first commercial branch was inaugurated in the Kingdom of Bahrain.
At a later stage, HBTF established subsidiary Banks in Algeria , Syria and London . In addition, the Bank opened representative offices in:
Abu Dhabi (UAE)
Apart from the above, it is worth mentioning that the Housing Bank for Trade & Finance is the first Bank in Jordan and the Arab world to establish a Children Branch in Haya's Cultural Center in the city of Amman. The purpose of having this branch is to educate children about saving and banking operations.
In this branch, we train children to do some banking operations using a user friendly and straightforward approach. We have also enlisted the Children Branch activities within the cultural events that Haya Cultural Center offers.
The Bank embarked on the process of expansion outside Jordan during the 1990s where the first step was in Palestine. Further it opened a branch in Bahrain.
In consequence, by the end of 2014 the International expansion of the Bank constituted a network of 16 branches (1 in Bahrain and 15 in Palestine).
Address: Bahrain, Al Manama Center, Govt.St., P.O.Box 5929
Tel: (+973) 1 7225227
Fax: (+973) 1 7227225
With the Aim of providing a Wider Range of Banking Services, and to cease a new Opportunity, the Housing Bank decided to penetrate the markets of Algeria as well as Syria by opening subsidiaries there in 2003.
Moreover, in 2010; the Housing Bank took a strategic decision in consolidating its presence in the UK through acquiring a controlling share in the Jordan International Bank; amounting to 68.75% before reaching 75% in 2013, as it also raised its share in Algeria from 61.2 to reach 85% during 2014, these International subsidiaries serves the markets were they are located at through a network of 36 branches dispersed across (Algeria, Syria and the UK).
In addition, the Housing Bank has local subsidiaries represented in the Specialized Leasing Company and the International Financial Center as well as representative offices in the U.A.E, Libya and Iraq.
HBTF Local subsidiaries
The Specialized Leasing Company
HBTF established Specialized Leasing Company as a private shareholding company on 30/05/2005. The paid-up capital is currently JOD 30 Million.
For More about The Specialized Leasing Company Click Here
The International Financial Center
The International Financial Center (IFC) was established as a full service financial brokerage company since the beginning of Amman Stock Exchange (ASE) in the year 1978.
When established, The IFC's capital was JOD 25000 (twenty-five thousand Jordanian Dinars) and was gradually raised until it became (five million Jordanian Dinars) in 2011 and the Bank's share is 77.5% of its capital.
The IFC is regulated and supervised by Jordan Securities Commission, but as the IFC is a subsidiary to HBTF, it is subject to HBTF's policies and procedures which are in compliance with Central Bank of Jordan regulations.
The company relies on the concept of the Total Quality Management in providing its financial services.
The company serves retail and corporate clients by a highly experienced and professional team.
Address: Shmeisani, Housing Bank Complex/ Second Floor
The International Bank for Trade and Finance (IBTF) was founded in December 2003 in Damascus, Syria with a capital of SYP 5 billion (equivalent to about USD 105 million), of which 49.1% is held by The Housing Bank for Trade and Finance.
IBTF offers comprehensive retail and corporate banking services and has a wide network of branches distributed throughout the Syrian governorates.
Contact Details Address: Head Office, Damascus, Sabe'a Bahrat, Pakistan St.
As part of the Bank`s efforts to expand beyond the Middle East and North Africa region, the Bank raised its stake in the share capital of Jordan International Bank - London (JIB) to 68.6% in 2010 and later it reached 75%, thus acquiring a controlling stake and adding a subsidiary branch to its group. At the time, JIB`s share capital was raised to GBP 65 million.
Like the Bank`s other international subsidiaries, JIB offers a wide range of banking and financial services to corporate and retail customers inside and outside the United Kingdom.
Address: Almack House, 26-28 King Street, London, SW1Y 6QW
The Housing Bank for Trade & Finance - Algeria was founded in October 2003 with a capital of PZD 10 billion (equivalent to about USD 139 million), of which 61.2% is held by The Housing Bank for Trade and Finance, and later this share was raised to reach 85% in the year 2014.
The Housing Bank for Trade & Finance - Algeria also offers a wide array of financial services to clients in the retail and corporate segments of the Algerian market.
Through its leading position in the Algerian market, The Housing Bank for Trade & Finance - Algeria continues to capitalize on business opportunities with reputable companies in harmony with its expansion strategy and international diversification policy, thus bolstering its position in the Algerian banking market.
General Manager: Mr. Houcine Hannachi Address: 16 Ahmed Waked St, Dali Ibrahim
In addition to its International branches and subsidiary banks, The Housing Bank for Trade and Finance owns representative offices in Abu Dhabi - United Arab Emirates, Tripoli - Libya and Baghdad - Iraq. These representative offices are playing a vital role in enhancing the Bank`s presence in the region by introducing its services in neighboring countries, building relationships with other financial institutions and encouraging other financial institutions to increase the volume of their business with the Bank. Therefore, they have been considered an important marketing tool through which the Bank was able to market its services outside Jordan and establish business relationships with non-Jordanian customers.
Abu Dhabi Representative Office
Representative Office Manager: Mr. Adnan Jarad
Address: United Arab Emirates - Abu Dhabi, Hamoudeh Bin Ali Building, 12th Floor, office1201, Sheikh Khalifa St.