Standard Chartered has entered an agreement to sell its business in Jordan as part of broader plans to exit seven markets in Africa and the Middle East.
Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), according to a statement, subject to central bank approval.
The deal includes the British lender’s corporate, commercial and institutional banking, consumer lending and private banking businesses as well as the transferral of all employees in Jordan.
The sale is part of broader plans announced in April 2022 to exit seven markets in Africa and the Middle East. In addition to Jordan, the bank plans to fully exit operations in Angola, Cameroon, Gambia, Lebanon, Sierra Leone and Zimbabwe.
