VOL. XLIII

No. 21

22-May-2000

JORDAN

Jordan National Bank Reports Net Losses Of $23Mn In 1999

The Jordan National Bank (JNB) reported net losses after tax of JD16.7 ($23.5mn) in 1999, compared to net profits of JD2.7mn ($3.8mn) in 1998. According to the 'Amman-based Atlas Investment Group, the losses are a result of provisioning costs of JD15.0mn ($21.1mn) and a decline in investment values which the management decided to account for last year. Non-performing loans increased to JD95.02mn...