CBB reports growth in May money supply

Bahrain’s monetary and banking indicators showed overall improvements, with money supply rising above 7 per cent, said the latest monthly statistical bulletin of CBB. According to the Central Bank of Bahrain’s statistical bulletin for May 2019 money supply (M3) increased significantly, reaching BD13.4 billion as at end of May 2019, an increase of 7.2pc from BD12.5bn in the same period-end last year.

The total outstanding balance of public debt instruments dropped at the end of May 2019 to BD11,293.4 million, compared to BD11,501m in May 2018. Meanwhile, the total outstanding balance of public debt instruments as a percentage of the gross domestic product (GDP) remained stable at 80.7pc as at the end of the first quarter of 2019.

The data also indicated an increase in the total balance sheet of the banking system from BD190.1bn at the end of May 2018 to BD202.3bn at the end of May, a significant increase of BD12.2bn in the 12 months.

Outstanding loans up 7.3pc

The total value of outstanding loans and credit facilities provided by retail banks amounted to BD9,789 million at the end of May 2019 compared to BD9,120.8m at the end of May 2018, an increase of 7.3pc. This amount includes loans and facilities provided to the business sector amounting to BD5,176.7m at the end of May 2019 compared to BD4,839.9m at the end of the same period last year.

Card transactions rise

The data indicates that credit card and debit card transactions across Point of Sales (POS) terminals amounted to BD193.1m in May 2019 compared to BD178.4m in May 2018; marking a significant increase of BD14.7m or 8.3pc. The balance sheet of retail banks increased by BD1.9bn, or 5.7pc, reaching a total of BD34.3bn at the end of May 2019 compared to BD32.4bn as at end of May 2018.

The data also shows an increase in local nonbank deposits which amounted to BD12.9bn at the end of May 2019 compared to BD11.9bn at the end of May 2018, an increase of 8.4pc.