Quds Bank completed the acquisition of branches in Palestine from Jordan Kuwait Bank for JOD 35.2 million.
Quds Bank (PLSE:QUDS) completed the acquisition of branches in Palestine from Jordan Kuwait Bank (ASE:JOKB) for JOD 35.2 million on August 22, 2018. Under the terms of the transaction, the cash portion of the transaction that was paid amounted to JOD 23.7 million in addition to 8.357 million shares representing 10% of Quds Bank's paid-up capital, entitling Jordan Kuwait Bank a representative on Quds Bank's Board of Directors.