Connect with us

Hi, what are you looking for?

Finance

Central Bank of Bahrain’s foreign assets fall in September

Bahrain's foreign assets

The Central Bank of Bahrain‘s net foreign reserve assets fell from 1.413 billion dinars ($3.77 billion) in August to 1.326 billion dinars ($3.53 billion) in September.

The central bank said that foreign assets decreased by 6.17% in September, on a monthly basis.

Foreign assets rose on an annual basis by 86.6%, compared to about 710.6 million dinars ($1.89 billion) in September 2020.

Bahrain’s foreign assets are 2.5 million dinars ($6.6 million) the book value of gold reserves, in addition to 1.323 billion dinars ($3.53 billion) in foreign currency deposits.

Bahrain is considered the least productive in terms of oil resources among the countries of the Gulf Cooperation Council, and produces about 200,000 barrels of crude oil per day.

The Bahraini economy was affected by the outbreak of the Coronavirus pandemic, recording a contraction of 5.81% during 2020, while the contraction continued during the first quarter of 2021 by 2.11%, and then recovered by 5.7% in the second quarter of this year.

In a related context, the central bank stated that non-performing loans fell significantly during the second quarter of this year 2021.

The percentage of non-performing loans decreased to 4.3% of the total loans provided by banks in the Kingdom, the bank said.

According to the bank’s data, the value of loans provided by banks at the end of June 2021 amounted to about 10.72 billion dinars ($26 billion), of which 4.8 billion dinars ($12 billion) to the individual sector, and about 5.4 billion dinars ($14 billion) to the business sector.

The data showed that non-performing loans with banks amounted to 4.3% of the total loans provided, while the percentage of non-performing loans with Islamic banks amounted to 5.5% of the total loans provided.

The percentage of provisions for conventional retail banks to the total non-performing loans amounted to 69.6%, while the percentage of provisions for Islamic retail banks reached 51.8% to the total non-performing loans.

Loans were concentrated in the real estate financing sector directed to individuals, where the value of loans granted with real estate guarantees amounted to about 2.2 billion dinars ($5.8 billion), then the construction sector by about 1.98 billion dinars ($5.2 billion).

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..