Bank approves 3,000 loans for development amid a pandemic | Oman times



Muscat: The Development Bank of Oman approved 3,073 development loans this year in various sectors of the economy.

This indicates an increase in lending activity by 1.7% compared to the previous year.

The bank offered financing packages and services to small and medium enterprises and the corporate sector to mitigate the impact of the pandemic.

Its loan portfolio reached 173 million Omani rupees, up 1.5% from last year, the bank’s board of directors said at a meeting on Sunday.

Among the most notable positive indicators this year is the growth of collection of payments on loans: 7.9 percent versus 7.2 percent last year.

Al Sharqiyah South Governorate received the largest share of the bank’s loans, both in value and quantity. Muscat Governorate comes second, followed by Northern El Batina Governorate.

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