Capital buffers of Jordan’s banks remain strong despite weaker profits, Moody’s says – The National

SourceThe National
SectorFinancial Services
CountryJordan

With a sharp economic contraction and a rise in non-performing loans, the asset quality of lenders will also come under pressure A picture of the headquarters of Jordan's largest lender the Arab Bank. Moody's says the profitability of the kingdom's banks may weaken as a result of the pandemic's impact on the economy, however capital buffers remain strong. Reuters The capital buffers of Jordan's banks remain strong despite their profitability weakening as a result of an economic slowdown induced by the Covid-19 pandemic, Moody’s Investors Service said. Jordan implemented an immediate and strict lockdown to fight the pandemic in this year. A sharp economic contraction and a rise in non-performing loans will put pressure...read more...