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2025-05-22@05:50:49 GMT

Royal Jordanian Signs $250 Million Syndicated Loan Agreement led by Arab Bank

تاريخ النشر: 21st, May 2025 GMT

Royal Jordanian Signs $250 Million Syndicated Loan Agreement led by Arab Bank

– Royal Jordanian signed today a syndicated loan agreement valued at USD 250 million, led by Arab Bank with the participation of several Jordanian and regional banks. This step underscores the solid confidence the banking sector places in the airline.
In his opening remarks at the signing ceremony, Royal Jordanian’s Chairman of the Board of Directors Said Darwazeh said that Royal Jordanian has a long-standing legacy as the national carrier and has, since its establishment, served as a key pillar in connecting Jordan to the world and reinforcing its role as a regional hub.

Despite the various challenges in the world and in the region in particular, the airline continued its operations with resilience and determination, carrying out its national mission and contributing significantly to Jordan’s economy, particularly in the tourism and transport sectors.
He added that this agreement marks a strategic milestone that underscores the strong relationship between Royal Jordanian and the banking sector. It also reflects the confidence that local and regional financial institutions have in the company’s long-term vision. “We see this partnership as a vital enabler of Royal Jordanian’s transformation and modernization efforts, reinforcing its regional and global competitiveness.”
“We greatly value the role played by Arab Bank and all participating banks in facilitating this banking arrangement. We look forward to continued constructive collaboration that supports the company’s objectives and contributes positively to the national economy,” Darwazeh said.
Commenting on the occasion, Vice Chairman of the Board and Chief Executive Officer of Royal Jordanian Samer Majali said: “As part of our recently launched growth and expansion strategy, Royal Jordanian is focused on modernizing its fleet, expanding its route network, investing in our growth ambitions especially in aviation support ventures, digital transformation and advanced technologies, in addition to settling the remaining balance of the existing loan; this strategic direction requires reliable financial support. Fleet modernization is a cornerstone of our commitment to sustainability, as modern aircraft play a crucial role in reducing fuel consumption and carbon emissions, aligning with our environmental responsibility and long-term aspirations.
“We take great pride in the trust shown by Jordanian and regional banks that chose to participate in this financing. Their confidence affirms the airline’s strong credit profile and financial stability. Our full commitment to repaying the previous syndicated loan on schedule even under the most challenging conditions during the COVID 19 pandemic played a key role in reinforcing this trust and encouraging broader participation from financial institutions,” Majali commented.
Randa Sadik, Chief Executive Officer, Arab Bank commented: “This USD 250 million financing agreement demonstrates Arab Bank’s and the participating banks’ belief in Jordan’s national carrier’s capacity to execute ambitious future expansion and development plans, reinforcing its position within the aviation sector. The agreement also underscores the strong confidence Royal Jordanian enjoys among local and regional financial institutions.” This financing, Sadik added, directly contributes to supporting the national economy and reinforcing Jordan’s standing regionally and internationally

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كلمات دلالية: اخبار الاردن عرض المزيد الوفيات عرض المزيد أقلام عرض المزيد مال وأعمال عرض المزيد عربي ودولي عرض المزيد منوعات عرض المزيد الشباب والرياضة عرض المزيد تعليم و جامعات في الصميم ثقافة وفنون علوم و تكنولوجيا اخبار الاردن الوفيات أقلام مال وأعمال عربي ودولي تعليم و جامعات منوعات الشباب والرياضة ثقافة وفنون علوم و تكنولوجيا زين الأردن مال وأعمال مال وأعمال مال وأعمال مال وأعمال مال وأعمال مال وأعمال مال وأعمال مال وأعمال مال وأعمال مال وأعمال

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EFG Holding Delivers Resilient Operational Performance، reflected in the First Quarter Results of 2025، Driving Consistent Growth Across All Business Lines


EFG Holding، a financia institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA)، announced today its results for the first quarter of 2025. EFG Holding reported revenues of EGP 5.6 billion in 1Q25، marking a 34% Y-o-Y decline. However، this decrease was entirely attributable to the exceptionally high base in 1Q24، which included the effect of the large devaluation of the EGP against the US Dollar، translating into a substantial foreign exchange (FX) gain. Barring this FX impact، EFG Holding demonstrated exceptional operational performance، with all business lines showing resilience and strength. Excluding the impact of any FX gains over both periods، the Group’s revenues would be up 31% Y-o-Y، underscoring the Group’s robust execution and momentum across its core activities، mainly the Investment Bank، EFG Hermes، and the Non-Bank Financial Institutions (NBFI) Platform، EFG Finance، followed by the Commercial Bank، Bank NXT. 
The Group’s total operating expenses (including provisions & ECL) decreased 29% Y-o-Y to EGP 3.5 billion، on lower employee expenses، lower provisions & ECL، and despite higher other G&A. Accordingly، the Group’s employee expenses/revenues came in at 37% in 1Q25 compared to 41% in 1Q24. EFG Holding’s net operating profit and net profit before taxes both lost 41% Y-o-Y. Consequently، net profit after tax and minority interest slipped 34% Y-o-Y to reach EGP 1.2 billion.
Karim Awad، Group CEO of EFG Holding، commented، “Our first quarter results reflect the strength and resilience of EFG Holding’s diversified platform and geographic footprint، even as we cycle a uniquely high base from last year. The year-on-year decline in revenues and net profit is predominantly attributable to the exceptional FX gains and unrealized investment revaluations recorded in 1Q24 following the large EGP devaluation that saw the EGP lose more than half of its value against the US Dollar in March 2024. When adjusted for these extraordinary items، our performance this quarter demonstrates solid operational growth across all lines of business and a clear trajectory of growth. Our Asset Management platform continues to grow، with AUMs on the rise، while our Investment Banking division executed landmark transactions during the quarter، including our leading role in the IPO of Nice One in KSA and the ADNOC Gas secondary offering in the UAE—further cementing our position as the advisory house of choice in the region.”
EFG Hermes، the Group’s Investment Bank، experienced a buoyant start to the year across its Sell-side and Buy-side divisions، with revenues posting solid Y-o-Y growth. However، this increase was pressured by Holding & Treasury Activities recording lower revenues Y-o-Y، as the comparable period included the impact of the EGP devaluation. This resulted in EFG Hermes’ revenues declining 54% Y-o-Y to EGP 2.9 billion. Excluding the impact of any FX gains across both periods، EFG Hermes revenues would be up 30% Y-o-Y.  Holding & Treasury Activities revenues decreased 91% Y-o-Y to EGP 418 million. Sell-side revenues added 46% Y-o-Y to reach EGP 2 billion، and buy-side revenues rose 50% Y-o-Y to EGP 449 million، with both Egypt and regional AUMs also posting increases. EFG Hermes operating expenses declined 45% Y-o-Y to EGP2 billion، on lower employee expenses، lower provisions & ECL، and despite higher other G&A expenses. EFG Hermes reported net profit after tax and minority interest of EGP 652 million، down 54% Y-o-Y، on the decline of Holding & Treasury Activities. 
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Bank NXT، the Group’s Commercial Bank، delivered a steady performance، honing in on strong portfolio growth. Its revenues increased 11% Y-o-Y to EGP 1.4 billion in 1Q25، largely driven by higher net interest income، due to interest rate hikes of 800 bps during 2024، in addition to growth in interest-earning assets. Operating expenses، including provisions & ECL، rose 19% Y-o-Y to EGP 624 million in 1Q25، primarily due to higher salaries، as well as higher other G&A expenses. The Bank’s net profit after tax added 5% Y-o-Y to reach EGP 498 million (of which the Group’s share is EGP 255 million) in 1Q25، as revenue growth outpaced the growth in expenses.
“During the quarter، our Brokerage business continued to thrive، especially in markets such as Kuwait and the UAE، where our geographic diversification strategy bears fruit. Bank NXT is expanding its portfolio and building a strong pipeline of deals that will support growth and have impactful long-term results. In Private Equity، we’re proud to report our first quarter of management fees from the Saudi Education Fund—a key milestone in our regional expansion story. Meanwhile، our Non-Bank Financial Institutions (NBFI) platform remains steadfast in delivering comprehensive financial solutions to clients across the spectrum، from individual retail customers to businesses of all sizes. Valu’s progress towards listing represents a significant milestone for the fintech leader، underscoring its remarkable growth trajectory in Egypt and solidifying its position as a trusted provider of innovative financial services. Tanmeyah remains a strong performer in its segment. Looking ahead، we remain focused on executing our strategic priorities، cementing our regional footprint، and creating sustainable value for our shareholders.،” concluded Awad.
EFG Holding’s 1Q25 financial results and management’s commentary are available.

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