Bahrain Development Bank enhances financing activity to support SMEs

The bank is investing heavily in digital capabilities to drive customer centricity

  
Business man using calculator with computer laptop. Image used for illustrative purpose.

Business man using calculator with computer laptop. Image used for illustrative purpose.

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MANAMA: Bahrain Development Bank (BDB) significantly stepped up its financing activity to support SMEs during the year with total disbursements increasing by 274 per cent to BD96.4 million in the first nine months compared with BD25.8m during the same period in 2019.

The bank posted a profit of BD1.063m in the first nine months of 2020 compared to BD1.017m in the same period in 2019.

Commenting, group chief executive Sanjeev Paul said the bank is investing heavily in digital capabilities to drive customer centricity.

“BDB’s digital transformation programme is a key pillar for delivering on the bank’s vision to build BDB as a sustainable industry leader and trusted partner for entrepreneurs in Bahrain, helping them to grow their businesses into successful and regionally competitive enterprises.

“To drive this initiative, the bank has selected TCS BaNCS Global Banking Platform which will be deployed on the cloud. With this, Bahrain is once again leading the way in adopting full digital core banking on cloud, delivered using a SaaS model thereby assuring that the bank is always at the cutting edge of technology,” he added.

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