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Al-Maraj

Bank lending in Bahrain to pick up

MANAMA, February 24, 2015

Commercial bank lending in Bahrain is expected to pick up after a slump, and the plunge of oil prices is not hurting liquidity in the banking system, Bahrain's central bank governor Rasheed Al-Maraj said on Tuesday.

Domestic assets of banks in Bahrain shrank 4.0 per cent from a year earlier in November, the most recent month for which data is available. Lending to the private sector fell 6.0 per cent, its seventh decrease in a row and the biggest monthly drop in the series.

However, Al-Maraj told reporters at an economic conference: "Overall lending may be dropping because of repayment, but the underlying growth in consumer lending and some of the corporates are still doing well.

"In view of some of the big projects coming on stream in a year or so, I think this will start picking up." - Reuters




Tags: Bahrain | banking | oil price |

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