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NEWS
BBK closed US$50 million 2-year Bilateral Loan Facility
28 Mar 2022
Bank of Bahrain and Kuwait (BBK), Bahrain’s pioneer in retail and commercial banking, 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.
Marking the successful conclusion of the transaction, Dr. AbdulRahman Ali Saif, BBK’s Group Chief Executive, stated that: “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
It is worth mentioning that BBK had recently published its year end 2021 financial results which presented the Bank’s sound performance and growth in net profit attributable to the owners of the Bank of 2.1% to BD 53.1 million.
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