Jordan private sector loans rise to $23.4billion in May

Jordan private sector loans rise to $23.4billion in May

Outstanding private sector loans made by the country's 23 commercial banks stood at 16.2 billion dinars at the end of December 2011, Central Bank of Jordan (CBJ) data obtained by Reuters showed.

July 4, 2012 6:15 by Reuters

Private loans extended by Jordan’s banks stood at 16.6 bln dinars ($23.4 bln) at end of May, up 2.46 pct 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 16.2 billion dinars at the end of December 2011, Central Bank of Jordan (CBJ) data obtained by Reuters showed.

They were up 3.5 percent year-on-year at the end of May compared with 16.03 billion dinars 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. (Reporting by Suleiman Al-Khalidi; Editing by Susan Fenton)