THE YEARNING FOR security characteristic of much of Jordan’s banking sector is perhaps understandable given its geographical position. So while the kingdom’s neighbours may be politically volatile, its banks have been largely shielded from the collapse of the financial system in the west. No Jordanian banks have had to be rescued, and annual results for 2009 show them making healthy, if lower profits.
Arab Bank, one of the largest regional lenders, saw profits fall only 31% last year, although provisions were five times as high as in 2008.
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