Latest news with #BD12.3
Trade Arabia
19-03-2025
- Business
- Trade Arabia
Nass Contracting emerges lowest bidder for Bapco Refining project
Bahrain Petroleum Company has announced that Nass Contracting Company has emerged the lowest bidder with its offer of BD12.3 million ($32.4 million) for the Sitra Wharf Enhancement Project being implemented by its key subisidiary Bapco Refining. Announcing the receipt of bids, Bapco refining said besides Nass, two other companies had submitted their proposals for the Sitra Wharf Enhancement Project. These include: Al Hassanain with BD16.3 million ($43 million) and Mohammed Jalal Contracting Company with BD19.8 million ($52.2 million). A key unit of the Bahrain oil giant, Bapco refining owns and operates the Sitra Port terminal and Sitra Wharf for exporting its products to the international market. With this project, Bapco refining aims to boost efficiency and profitability by targeting larger hydrocarbon cargoes and improving wharf facilities. Bapco Refining also aims to start construction work on its Berths No 5 and 6 to enhance the liquid cargo handling capacity by modification of new Island Wharf Berths No 5 and 6. In another development, Bapco Refining said it was all set to start revamp work on a major HVAC system within its premises. The scope of work includes design, procurement, supply, installation, testing and commissioning of chiller units in security building; Refinery Telephone exchange building; Power & Utilities Building; Wharf SLM office and FCCU Complex. In a Bahrain Tenders notification, Bapco Refining said it had received bids from three major companies for the HVAC System Phase I project.
Zawya
17-03-2025
- Business
- Zawya
Loans extended by Bahrain banks increase 4.6% in 2024
Bahrain - The outstanding balance of total loans and credit facilities extended to resident economic sectors by banks in Bahrain increased to BD12.3 billion ($32.62 billion) at the end of December 2024, an increase of 4.6% compared to the end of 2023. This was revealed at the Central Bank of Bahrain's (CBB) Board of Directors meeting, chaired by Hassan Khalifa Al Jalahma on Sunday (March 16). The Business Sector accounted for 42.3% and the Personal Sector 48.3% of the total loans and credit facilities. The total private deposits in Bahrain's retail banks increased to around BD14.2 billion at the end of December 2024, a growth of 0.4% compared to the end of December 2023. The balance sheet of the banking system (retail banks and wholesale sector banks) increased to $247.8 billion at the end of December 2024, an increase of 3.9% compared to the end December of 2023. The CCB board also reviewed key monetary and banking indicators for the year 2024 including the money supply, which increased by BD0.3 billion to reach BD16.3 billion at the end of December 2024, compared to the same period in 2023. The board reviewed the topics on the agenda and approved the CBB's annual report and audited financial statements for the year 2024. The board also discussed the CBB's investment policy for 2025, and reviewed the CBB's activities thus far in 2025. The CBB report said Point of Sales (POS) data for January 2025 totalled 21.2 million transactions (77.4% of which were contactless), an increase of 25.4% compared to the same period in 2024. The total value of POS transactions for January 2025 totaled BD 433.0 million (51.9% of which were contactless), an increase of 14.6% compared to the same period in 2024. The banking sector maintained a high level of capital adequacy and liquidity, as the capital adequacy ratio of the banking sector reached 21.2% in Q4 2024 compared with 19.7% in Q4 2023. The capital adequacy ratio for the various banking sectors was 32.0% for conventional retail banks, 16.9% for conventional wholesale banks, 24.6% for Islamic retail banks, and 19.6% for Islamic wholesale banks in Q4 2024. The total number of registered Collective Investment Undertakings (CIUs) as of January 2025 stood at 1741 CIUs, compared to 1,678 funds as of January 2024. The net asset value (NAV) of the CIUs increased from $11.139 billion in Q4 2023 to $11.170 billion in Q4 2024, reflecting an increase of 0.3%. The NAV of Bahrain domiciled CIUs decreased from $4.309 billion in Q4 2023 to $4.268 billion in Q4 2024, reflecting a decrease of 1%. The NAV of overseas domiciled CIUs increased from $6.830 billion in Q4 2023 to $6.902 billion in Q4 2024, reflecting an increase of 1.1%. Additionally, the NAV of Shari'a-compliant CIUs increased from $1.618 billion in Q4 2023 to $1.715 billion in Q4 2024, reflecting an increase of 6%, CBB said. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
16-03-2025
- Business
- Trade Arabia
Loans extended by Bahrain banks increase 4.6% in 2024
The outstanding balance of total loans and credit facilities extended to resident economic sectors by banks in Bahrain increased to BD12.3 billion ($32.62 billion) at the end of December 2024, an increase of 4.6% compared to the end of 2023. This was revealed at the Central Bank of Bahrain's (CBB) Board of Directors meeting, chaired by Hassan Khalifa Al Jalahma on Sunday (March 16). The Business Sector accounted for 42.3% and the Personal Sector 48.3% of the total loans and credit facilities. The total private deposits in Bahrain's retail banks increased to around BD14.2 billion at the end of December 2024, a growth of 0.4% compared to the end of December 2023. The balance sheet of the banking system (retail banks and wholesale sector banks) increased to $247.8 billion at the end of December 2024, an increase of 3.9% compared to the end December of 2023. The CCB board also reviewed key monetary and banking indicators for the year 2024 including the money supply, which increased by BD0.3 billion to reach BD16.3 billion at the end of December 2024, compared to the same period in 2023. The board reviewed the topics on the agenda and approved the CBB's annual report and audited financial statements for the year 2024. The board also discussed the CBB's investment policy for 2025, and reviewed the CBB's activities thus far in 2025. The CBB report said Point of Sales (POS) data for January 2025 totalled 21.2 million transactions (77.4% of which were contactless), an increase of 25.4% compared to the same period in 2024. The total value of POS transactions for January 2025 totaled BD 433.0 million (51.9% of which were contactless), an increase of 14.6% compared to the same period in 2024. The banking sector maintained a high level of capital adequacy and liquidity, as the capital adequacy ratio of the banking sector reached 21.2% in Q4 2024 compared with 19.7% in Q4 2023. The capital adequacy ratio for the various banking sectors was 32.0% for conventional retail banks, 16.9% for conventional wholesale banks, 24.6% for Islamic retail banks, and 19.6% for Islamic wholesale banks in Q4 2024. The total number of registered Collective Investment Undertakings (CIUs) as of January 2025 stood at 1741 CIUs, compared to 1,678 funds as of January 2024. The net asset value (NAV) of the CIUs increased from $11.139 billion in Q4 2023 to $11.170 billion in Q4 2024, reflecting an increase of 0.3%. The NAV of Bahrain domiciled CIUs decreased from $4.309 billion in Q4 2023 to $4.268 billion in Q4 2024, reflecting a decrease of 1%. The NAV of overseas domiciled CIUs increased from $6.830 billion in Q4 2023 to $6.902 billion in Q4 2024, reflecting an increase of 1.1%. Additionally, the NAV of Shari'a-compliant CIUs increased from $1.618 billion in Q4 2023 to $1.715 billion in Q4 2024, reflecting an increase of 6%, CBB said. – TradeArabia News Service
