BBK closed US$50 million two year Bilateral Loan Facility

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bank of Bahrain and Kuwait announced that it has successfully closed a US$50 million 2-year Bilateral Loan Facility. The Facility, which will be used for general funding purposes, was arranged by Bank Muscat.

This Loan facility follows the successful closure of a US$150 million 2-year Club Loan Facility back in October, 2021 which was signed with Bank ABC, Emirates NBD Bank (P.J.S.C.) and Mashreq bank PSC, amidst the surge of the global pandemic.

Dr AbdulRahman Ali Saif, BBK's Group Chief Executive, stated: "BBK is pleased to have worked with one of its key regional relationship banks; Bank Muscat, on this transaction. The facility reflects BBK’s sound financial standing and its strategy to diversify its funding mix to support its overall growth”.

"This Loan Facility gives us more strength to enhance our position as a leading financial institution in terms of operation and performance, and to provide our clients with a variety of financing services. It also enables us to enhance our role in supporting the national economy and the numerous development projects announced by the Government,” according to Dr Saif.