Volume of Development Bank’s Lending Portfolio Stands at RO 245.8 Million in 1st Quarter of 2024

Muscat, 12 May (ONA) --- The Development Bank’s lending portfolio posted a growth of 4 percent to stand at approximately RO 245.8 million during the first quarter of 2024 compared to its size at the end of December 2023.

Statistics issued by the bank indicated that the number of loans approved by the bank in the first quarter of 2024 amounted to 1,499 loans, worth RO 33.6 million, an increase of 26 percent compared to the first quarter of 2023.

Statistics showed that loan approvals during the first quarter of 2024 were 136 loans in Muscat Governorate, with a value amounting to RO 11.1 million, 182 loans worth RO 3 million in Dhofar Governorate; in the Governorate of North Al Batinah, 215 loans worth RO 3.5 million, in the South Al Batinah Governorate, 136 loans worth RO 3.5 million, 127 loans worth RO 1.1 million in A’Dhahirah Governorate, 58 loans worth RO 1.5 million in A’Dakhiliyah Governorate, 93 loans worth RO 2 million in Al Wusta Governorate, 82 loans worth RO 700,000 in Musandam Governorate, 44 loans worth RO 600,000 in Al Buraimi Governorate, 88 loans worth RO 1.2 million in the North A’Sharqiyah Governorate and 338 loans worth RO 5.4 million in the Governorate of South Al Sharqiyah.

The number of loans in the agriculture and livestock sector reached 245 loans, worth RO 4.1 million whereas in the fisheries sector, 600 loans worth 6 million were granted. In the industrial sector, 292 loans worth RO 12.3 million were approved. In the mining sector, 3 loans worth 200,000 were granted. Other loans were distributed among the educational, health, tourism, professional and public services sectors, with a total of 359 loans worth RO 11 million.

--- Ends/Khalid