Jordan Kuwait Bank (JKB) has announced plans to acquire a controlling stake in FIMBank plc, marking a significant expansion step for the Amman, Jordan-based financial institution.

Following a meeting held on 29th October 2025, JKB’s Board of Directors approved the decision to proceed with the acquisition process, according to a company announcement released by FIMBank.

The transaction involves the purchase of combined shareholdings held by United Gulf Holding Company B.S.C. (UGH) and Burgan Bank K.P.S.C., which together represent approximately 88.9 per cent of FIMBank’s issued share capital.

Currently, UGH holds an 80.4 per cent stake in FIMBank, while Burgan Bank owns 8.5 per cent.

Upon completion, JKB will assume a controlling interest, marking what it describes as a strategic milestone and its planned entry into the European Union through Malta’s regulated financial framework.

According to the announcement, the acquisition aligns with JKB’s broader strategy to diversify revenue sources, expand its geographic footprint, and strengthen its position as a regionally integrated banking group with international reach.

The transaction remains subject to regulatory approvals from authorities in both Jordan and Malta, including the Central Bank of Jordan (CBJ), the Malta Financial Services Authority (MFSA), and the European Central Bank (ECB).

United Gulf Holding, Burgan Bank, and JKB are all subsidiaries of the Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), a diversified group with major investments across the Middle East and North Africa.

FIMBank stated that it has no further information to disclose at this stage and that additional updates will be communicated to the market in due course.