FIMBank plc - Acquisition Process of Controlling Stake

On 30 October 2025, FIMBank plc announced that it was informed that Jordan Kuwait Bank (JKB) intends to proceed with the acquisition process of a controlling stake in FIMBank. The contemplated transaction involves the acquisition by JKB of the 80.4% shareholding in FIMBank held by United Gulf Holding Company B.S.C. (UGH) as well as the 8.5% shareholding held by Burgan Bank K.P.S.C. (Burgan Bank). UGH, Burgan Bank, and JKB are all subsidiaries of the Kuwait Projects Company (Holding) KSCP (KIPCO).

FIMBank stated that reportedly this decision represents a strategic milestone for JKB marking its planned entry into the European Union through Malta’s regulated financial framework and the acquisition forms part of JKB’s broader strategy to diversify its revenue sources, strengthen its geographical presence, and reinforce its position as a regionally integrated banking group with international reach.

The completion of this transaction is subject to obtaining the required regulatory approvals from the competent authorities in Jordan and Malta including the Central Bank of Jordan and the Malta Financial Services Authority in addition to the European Central Bank.