A report on "the most prominent banking developments until the end of 2020", issued by the Association of Banks in Jordan, showed that the Jordanian banking sector reversed the health crisis and closure restrictions during the past year, as it achieved growth in its reserve assets.
According to the report, which highlights the performance of banks listed on the local stock exchange and the impact of interest rates on deposits and facilities and on monetary policy tools, banks' assets grew by 6.36 percent, compared to an annual rate. The balance of capital, reserves and provisions with banks also increased by 6.9 percent during the same period, reaching 8.7 billion dinars (12.3 billion dollars) at the end of last year.
The number of banks operating in Jordan is 25, including 16 local Jordanian banks, which are divided into 13 commercial banks, three Islamic banks, and nine foreign banks, including eight commercial banks and one Islamic bank. The banks, which have 857 branches and 65 offices, in addition to 2,078 ATMs, provide about 21,000 jobs.
The outstanding balance of total credit facilities granted by banks increased by 5.7% to reach $40.4 billion, while the balance of total deposits grew by 4.2% to reach about $52 billion.
Source (London-based Al-Arab Newspaper, Edited)
