Thursday 09, July 2009 by

S&P: The tough economy is likely to hurt Jordanian bank asset quality

"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. "The medium-term outlook for Jordan's economy remains in our view good, however."

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