Jordan private sector loans hit $23bn

Amman, July 4, 2012

Private loans extended by Jordan's banks stood at JD16.6 billion ($23.4 billion) at end of May, up 2.46 per cent since the end of December, showing signs of easier credit from risk averse banks, central bank data showed on Wednesday.

Outstanding private sector loans made by the country's 23 commercial banks stood at JD16.2 dinars at the end of December 2011, Central Bank of Jordan (CBJ) data obtained by Reuters showed.

They were up 3.5 per cent year-on-year at the end of May compared with JD16.03 billion in the same period last year.

Banks had become more cautious about extending new loans since a wave of Arab unrest swept the region, dealing a new blow to potential borrowers after the global downturn, which continues to slow growth and domestic consumption.

But some banks have begun easing tight credit terms to top tier companies after months of slow lending hurt banks' profits, especially those awash with liquidity, bankers say. – Reuters

Tags: Central Bank | Jordan | Loans | Amman | Private sector |