Banking sector assets see 3.7 per cent increase in 2018

AMMAN — The volume of combined assets of the Jordanian banking sector totalled JD50.9 billion in 2018, showing an increase of 3.7 per cent compared with the previous year, while deposits grew by 2 per cent to reach JD33.85 billion.

According to the Association of Banks in Jordan's (ABJ) figures, credit facilities granted to the public and private sectors reached some JD26.11 billion, registering a 5.6 per cent growth, compared with the end of 2017. 

Chairman of the ABJ Hani Qadi said that the Kingdom's banking sector indicators showed "tangible" improvement, noting that last year's offered credit facilities have maintained stability, with non-performing loans constituting 4.9 per cent of all loan, which is considered a “low percentage”. 

The rate of return on assets achieved by Jordanian banks reached 1.2 per cent, while return on equity totalled 9.6 per cent, the Jordan News Agency, Petra, reported.

The banking sector in 2018 generated JD843.2 million in pre-tax profits, showing an increase by 3.6 per cent in comparison with 2017, with local commercial banks reaping JD639.7 million, Islamic banks JD144.8 million and foreign banks JD58.7 million.