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FINANCIAL NEWS
Bahrain’s Jan-Oct bank lending rises 12.9%
14 Dec 2011
(MENAFN) Bahrain’s central bank said that in the January-October period, bank lending in the country jumped 12.9 percent, compared with 3.5 percent in the year’s first six months, reported Gulf News.
The bank added that during the period, personal loans surged 21 percent reaching USD5.59 billion, whereas business loans grew 11 percent reaching USD10.70 billion.
On the other hand, it said that Bahrain became the first Arab country hit with pro-democracy protests in 2011 to tap global bond markets, when it sold USD750 million in seven-year Islamic bonds last month.
It is worth noting that according to Bahrain’s statistics office, in the third quarter, the country’s economy expanded 2.4 percent from 2010’s same period, recording the fastest pace in three quarters.
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