Complex Made Simple

Jordan’s banks extend JOD1.56bn in new loans in 9 months

Total value of loans and credit facilities portfolio at end of September stood at JOD20.83bn

Jordan’s local banks extended JOD1.563 billion in new loans and credit facilities in the first nine months of the current year, signalling an increase of eight per cent.

The total value of the loans and credit facilities portfolio at the end of September stood at JOD20.83bn compared with JOD19.274bn at the end of 2014.

Month-on-month, Jordanian banks extended JOD228 million, up by 1.1 per cent compared with a month earlier, according to data published by Al Ghad newspaper.

In 2014, the kingdom’s banks extended loans whose value was higher by JOD353m compared with 2013.

Back to this year’s figures, the construction and housing sector accounts for JOD4.82bn to the credit facilities portfolio followed by the trade sector with JOD3.75bn.

The services and public facilities sector now accounts for JOD3.16bn of this portfolio while the amounts borrowed by the industrial sector now stand at JOD2.24bn.

(JOD1 = AED5.18, at the time of publishing)