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Ammon News - Total deposits in the Jordanian banking system picked up by 6.1 percent from the end of 2021 to the end of last October, totaling JD42.9 billion, according to a periodic bulletin released Tuesday by the Association of Banks in Jordan (ABJ).

In the same time frame, the total amount of credit extended by domestic financial institutions increased by 7.6 percent to JD32.3 billion; of this sum, 90.9 percent was extended to the private sector, both resident and non-resident.

By the end of October, total assets had increased by JD2.25 billion, bringing the grand total to around JD63.3 billion, according to the ABJ figures.

The capital adequacy ratio for the banking sector was 17.1 percent in the first half of the year, which is significantly higher than the bare minimums of 12 percent required by the Central Bank and 10.5 percent mandated by the Basel 3 Committee.

At 136.7 percent, bank liquidity is more than double the level mandated by the Central Bank. Non-performing loans as a percentage of total loans in the banking system reached 4.6 percent, which is well within acceptable global levels.

At the end of the first half, the pretax profits of Jordanian banks totaled JD404 million, while the post-tax profits totaled JD278 million.