Bahrain banks’ loans and credit facilities jump 6.3%

Bahrain banks’ loans and credit facilities jump 6.3%

The outstanding balance of total loans and credit facilities extended to resident economic sectors in Bahrain increased to BD11.4 billion ($30.24 billion) at the end of October 2022, a growth of 6.3% compared to the end of October 2021, it was revealed yesterday (December 14)

The Business Sector accounted for 45.7% and the Personal Sector at 49.7% of the total loans and credit facilities.

The balance sheet of the banking system (retail banks and wholesale sector banks) increased to $222.5 billion at the end of October 2022, an increase of 5.9% compared to the end of October 2021, it was announced at the Central Bank of Bahrain’s (CBB) Board of Directors' fourth meeting for the year 2022, chaired by Hassan Khalifa Al Jalahma.

The Board reviewed the performance report and developments in the financial sector for the fourth quarter of 2022 and the CBB’s financial performance report as of end of November 2022. The board also reviewed the progress with regards to the Financial Services Sector Development Strategy, and the CBB’s estimated budget and investment policy of the bank for the year 2023.

The data presented said total private deposits in Bahrain's retail banks increased to BD13.4 billion at the end of October 2022,