Nov 10 2011 |
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Bahrain Ctrl Bk Says Retail Banks Credit Growth Slowing -Report
Thursday, Nov 10, 2011
BEIRUT (Zawya Dow Jones)--Bahraini retail banks' credit growth slowed this year compared with 2010 and the exposure of the local banking sector to European countries that are suffering from the sovereign debt crisis is limited, Manama-based Al Wasat reports Thursday citing an official.
The loans granted by local retail banks as at the end of the third quarter grew 2% compared with a year earlier, Khalid Hamad, the central bank's executive director for banking supervision, said according to the paper. This is less than the growth achieved in 2010 because demand for credit is weaker this year due to the fact that the financial crisis hasn't subsided yet, he added.
However, the situation of retail banks' deposits is reassuring and their growth is as high as 20% compared with last year, the daily cites Hamad as saying.
Newspaper website: http://www.alwasatnews.com/3351/news/read/607325/1.html
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
10-11-11 0625GMT
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