Bahrain – Total outstanding loans and credit facilities extended to resident economic sectors in Bahrain increased to BD 11.3 billion ($29.97 billion) at the end of May 2022, an increase of 5.7 % from the end of May 2021, a central bank of According to Bahrain report.
The corporate sector accounted for 46.2% and the personal sector 49.5% of total loans and credit facilities, the CBB’s financial performance report as of end-May 2022 said.
The CBB Board of Directors, which held its second meeting for 2022 under the chairmanship of Hassan Khalifa Al-Jalahma today (June 26), reviewed the report and financial sector developments for the second quarter of 2022 and the report on the financial performance of the CBB at the end of May 2022. The board also reviewed the work in progress concerning the development strategy of the financial services sector (2022-2026).
The data showed stable liquidity, broad money supply, M3, totaling 15.1 billion dinars at the end of May 2022, an increase of 2.9% compared to the end of May 2021.
Total private deposits in retail banks increased to around 13 billion dinars at the end of May 2022, an increase of 1.4% compared to the end of May 2021.
The balance sheet of the banking system (retail banks and banks in the wholesale sector) increased to 220.7 billion dollars at the end of May 2022, an increase of 3.7% compared to the end of May 2021.
Point-of-sale (POS) data showed an increase in the number of transactions in the first five months of 2022, totaling 63.6 million transactions (of which 73.1% were contactless), an increase of 40 .4% compared to the same period in 2021 The total value of transactions at the point of sale totaled 1.5 billion BD (of which 45.4% by contactless cards), an increase of 32.7% compared to at the same time in 2021.
The banking sector maintained a high level of capital adequacy and liquidity, with the banking sector capital adequacy ratio standing at 19.5% in the first quarter of 2022 compared to 18.5% in the first quarter of 2021 The capital adequacy ratio was 21.3% for conventional retail banks, 17.8% for conventional wholesale banks, 21.3% for Islamic retail banks and 16.4% for Islamic wholesale banks.
These indicators are consistent with the return of activity in all economic sectors in the Kingdom and demonstrate the stability and capacity of the financial sector to serve the national economy, said a statement from the CBB.
The Chairman and the members of the Board of Directors expressed their thanks and appreciation to the leaders of the Kingdom for their support to the CBB and the efforts and measures taken to contain the repercussions of Covid-19, including the Economic Recovery Plan which contributed to the return of normal activities to all sectors of the economy.
The Board also expressed its appreciation for the efforts of the banking sector over the past year.
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