When Haethum Buttikhi became chief executive of Jordan Kuwait Bank (JKB) in 2021, the institution faced one of the most challenging periods in its history. The bank was emerging from the disruption of the Covid-19 pandemic, operating with structural weaknesses in its balance sheet and needing to modernise both its operating model and customer proposition.
The starting point was demanding: JKB was recovering from a loss-making year, managing elevated non-performing loans and working to improve digital penetration and customer experience across retail and corporate segments.
The response was a five-year transformation strategy covering 2021 to 2025, focused on strengthening the balance sheet, improving risk management, investing in digital infrastructure, embedding sustainability and building a more performance-driven organisation.
One of the first priorities was restoring financial resilience and creating a stronger platform for sustainable growth. JKB strengthened its risk management framework, reinforced capital discipline and focused on improving governance, efficiency and long-term stakeholder value. The bank also implemented changes to systems, organisational structures and business centres to align execution with its five-year strategy.
The impact was reflected in a substantial financial turnaround. After recording a loss in 2020, JKB returned to profitability in 2021, while its non-performing loan ratio declined from 11% in 2020 to 8% in 2021. Between the period before Buttikhi’s appointment and the third quarter of 2025, the bank’s total assets increased by 89.7%, customer deposits rose by 89.6% and total equity more than doubled.
KPI-driven culture transformation
The transformation also required a fundamental cultural shift. JKB moved away from a traditional appraisal model and introduced strategy-linked KPIs across the organisation, supported by performance-based incentives.
“A critical factor in our transformation was fostering a strong culture of accountability, collaboration and shared purpose,” says Buttikhi. “By aligning performance with strategic KPIs and empowering our teams around common objectives, we were able to accelerate execution and deliver sustainable change.”
At the same time, JKB redefined its customer proposition by placing customer-centricity at the forefront of its strategy. The bank simplified its product offering, redesigned customer journeys and invested in digital platforms to improve service accessibility and accelerate adoption across retail and corporate clients.
In retail banking, it launched the Eli digital wallet, introduced virtual cards, multi-currency services, cashback and family banking features, and expanded digital payment capabilities.
A critical factor in our transformation was fostering a strong culture of accountability, collaboration and shared purpose
Haethum Buttikhi
For corporate clients, JKB implemented a new transaction banking platform in 2024, offering real-time payments, cash management and liquidity tools.
To support its transformation, the bank invested significantly in digital infrastructure, completing a technology refresh programme across Jordan and Cyprus that included building three data centres to strengthen resilience and service availability.
JKB expanded the use of digital solutions and automation, including artificial intelligence tools for fraud prevention and robotic process automation, helping improve efficiency and customer service. Active digital users increased by 23% compared with 2023.
“Our focus has been on building an integrated and digitally advanced financial ecosystem that delivers greater value, accessibility and convenience for retail, SME and corporate customers,” says Buttikhi. “By simplifying customer journeys and investing in digital capabilities, we have strengthened both customer experience and long-term growth.”
Customer experience improvements were reflected in stronger metrics, including a 2025 customer satisfaction score of 92% and net promoter score of 64%.
The transformation strategy also reshaped JKB’s growth profile. The 2022 acquisition of a majority stake in Bank of Baghdad supported the JKB’s disciplined regional expansion strategy and helped generate new revenue streams, while it strengthened its sustainability position by issuing Jordan’s first green bond in 2023, with proceeds allocated to wastewater treatment projects.
By combining balance sheet strengthening, cultural change, digital investment and regional expansion, JKB has transformed from a bank focused on recovery into one positioned for sustainable growth.
