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The tough economy is likely to hurt Jordanian bank asset quality

Posted on 10 July 2009

From Globalarabnetwork.com: The current tough economic environment is likely to hurt the asset quality of Jordan’s banks, but the medium-term outlook remains good, said Standard & Poor’s Ratings Services in a report published today, “Banking Industry Country Risk Assessment: Jordan.”

“Economic difficulties and the country’s dependence on some cyclical sectors–such as export-oriented industries, real estate, and tourism–are, in our opinion, likely to hurt banks’ asset quality because of the system’s high exposure to these sectors,” said Standard & Poor’s credit analyst Mohamed Damak……..Full Article: Source

 
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