Bahrain’s money supply rises 10pc

Bahrain’s Money supply (M3) increased 10 per cent in October to reach BD 13,631.3 million from BD 12,389.2 m as at the same period-end last year, said the Kingdom’s top bank yesterday.

Besides, the total outstanding balance of public debt instruments which includes Development Bonds, Treasury Bills, Islamic Leasing securities and Al Salam Islamic securities stood at BD 12,045.4 m at the end of October 2019, an increase of 2.6pc compared to its level of BD 11,739.0 m in October 2018. The data was revealed in the October statistical bulletin of the Central Bank of Bahrain (CBB).

The data also indicated an increase in the total balance sheet of the banking system from USD 191.6 billion at the end of October 2018 to USD 203.7 billion at the end of October 2019, an increase of USD 12.1 billion, or 6.3pc, in the 12 months.

Outstanding loans up 4.5pc

The total value of outstanding loans and credit facilities provided by retail banks amounted to BD 9,794.9 m at end of October 2019 compared to BD 9,376.8 m at the end of October 2018, an increase of 4.5pc.

This amount includes loans and facilities provided to the business sector amounting to BD 5,194.2 m at the end of October 2019 compared to BD 5,022.8 m at the end of the same period last year, an increase of 3.4pc.

Credit, debit transaction rise 11.1pc

Credit card and debit card transactions across Point of Sales (POS) terminals amounted to BD 206.8 m in October 2019 compared to BD 186.2 m in October 2018; marking an increase of BD 20.6 m or 11.1pc.

Non-bank deposits increase 10.1pc

The balance sheet of retail banks increased by BD 2.6 billion, or 8.1pc, reaching a total of BD 34.8 bn at the end of October 2019 compared to BD 32.2 bn as at end of October 2018.

The data also shows an increase in local non-bank deposits which amounted to BD 13.1 bn at the end of October 2019 compared to BD 11.9 bn at the end of October 2018, an increase of 10.1pc.