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...
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