Best bank - Arab Bank
Best local partner - Arab Bank
Best debt house - Citigroup
Arab Bank is really the only choice for best bank and best local partner in Jordan. It is far and away the dominant corporate and retail bank in the kingdom and is one of the leading players in the region as well.
It has managed to survive and prosper despite the often difficult local economic and regional political situation. In 2002 Arab Bank's net income after tax fell 8.2% to $230 million as low interest rates and a falling Jordanian dinar hit the bank's revenue.
Citigroup's lead role in the biggest loan deals in Jordan this year wins it the best debt house in Jordan award. The bank acted as the sole arranger of a $15 million revolving credit facility for Royal Jordanian Airlines in November 2002 and as co-lead with Kuwait Finance House on a $22 million revolving facility for Jordan Mobile Telephone Services in July 2002.