Loans in Bahrain grow 5.8% to BD10 billion

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Newly published official data revealed that the total loans and facilities in Bahrain until the end of November last year reached BD10.3 billion, increasing by 5.8 per cent on an annual basis from BD9.7 billion in the same period of 2019.

According to Central Bank of Bahrain data, the unified budget for loans granted by retail banks is divided into three main branches.

They are the business sector, which constitutes 51.3 per cent of the total loan budget amounting to about BD5.3 billion; the individual sector, which constitutes 45.3 per cent of the total loans amounting to BD4.7 billion; and the government sector, which constitutes 3.3 per cent of the total loans amounting to BD349 million.

In terms of business sector loans, the data shows a growth in total loans granted by 2.8 per cent, growth of personal loans by 7.9 per cent, while loans granted to the government registered a growth of 30.6 per cent on an annual basis.

In the business sector, loans are distributed among several sectors, namely the construction sector, in which loans amounted to BD1.9 billion, followed by loans granted to the industrial sector about BD1.2 billion, and trade sector loans amounted to BD950.1 million.

Amounting to BD4.7 billion, personal loans were topped by securing real estate with 46.3 per cent of personal loans, and the loans themselves amounting to BD2.177 billion constituted about 21 per cent of the total loans granted in Bahrain.