Jordanian banking sector’s assets at JOD50.9 billion in 2018

Amman, The combined value of assets held by Jordan’s banking sector picked up by 3.7 percent in 2018 to a staggering JOD50.9 billion while deposits inched up by 2 percent to JOD33.85 billion.

According to data by the Association of Banks in Jordan (ABJ), credit facilities offered by banks operating in the Kingdom hit JOD26.11 billion in 2018, indicating a 5.6-percent increase. Chairman of the association, Hani al-Qadi, said the local banking sector’s indicators showed overall improvement, noting that non-performing loans remains in a safe territory at 4.9 percent.

He added that the banking sector achieved a rate of return on assets of 1.2 percent, while the rate of return on equity reached 9.6 percent. The ABJ’s data also revealed that the total 2018 pre-tax profits of banks increased by 3.6 percent reaching JOD843.2 million.

Source: Jordan News Agency