M3 money supply rises 9pc

Growth of money supply in the Kingdom quickened in November 2019, according to a new Central Bank of Bahrain data. The M3 measure of money supply increased 9 per cent in November 2019 to BD 13,634.1 million from BD 12,504.3m in the same period-end a year ago, Bahrain’s top bank said in a statement.

M3 comprises mainly of currency in public circulation, bank deposits and money invested in other saving plans. The total outstanding balance of public debt instruments stood at BD 12,045.4 million at the end of November 2019, an increase of 5.1pc compared to BD 11,457.0m in November 2018.

These include Development Bonds, Treasury Bills, Islamic Leasing securities and Al Salam Islamic securities. CBB data also indicated a rise in the total balance sheet of the banking system from USD 192.1 billion at the end of November 2018 to USD 205.6bn at the end of November 2019, an increase of USD 13.5bn, or 7.0pc, in the 12 months.

Loans and credit rise

The total value of outstanding loans and credit facilities provided by retail banks amounted to BD 9,782.8m at end of November 2019 compared to BD 9,440.0m at the end of November 2018, an increase of 3.6pc.

This amount includes loans and facilities provided to the business sector amounting to BD 5,166.9m at the end of November 2019 compared to BD 5,052.1m at the end of the same period last year, an increase of 2.3pc.

Card transactions up 12.5pc

Credit card and debit card transactions across Point of Sales (POS) terminals amounted to BD 217.4m in November 2019 compared to BD 193.2m in November 2018; marking an increase of BD 24.2m or 12.5pc.

The balance sheet of retail banks increased by BD 3.0bn, or 9.3pc, reaching a total of BD 35.4bn at the end of November 2019 compared to BD 32.4bn as at end of November 2018.

Non-bank deposits rise 9.2pc

The data also shows an increase in local non-bank deposits which amounted to BD 13.1bn at the end of November 2019 compared to BD 12.0bn at the end of November 2018, an increase of 9.2pc.