Manama, Bahrain, 2 July 2019 – The Central Bank of Bahrain (CBB) monthly statistical bulletin for May 2019 indicated an overall improvement in monetary and banking indicators. Money supply (M3) increased significantly, reaching BD13.4 billion as at end of May 2019, compared to BD12.5 billion as at the same period-end last year, an increase of 7.2%. In addition, total outstanding balance of public debt instruments dropped at the end of May 2019 to BD11,293.4 million, compared to BD11,501 million in May 2018. The total outstanding balance of public debt instruments as a percentage of the gross domestic product (GDP) remained stable at 80.7% as at the end of the first quarter of 2019.

The data also indicated an increase in the total balance sheet of the banking system from BD190.1 billion at the end of May 2018 to BD202.3 billion at the end of May, a significant increase of BD12.2 billion in the 12-month period.

The total value of outstanding loans and credit facilities provided by retail banks amounted to BD9,789 million at end of May 2019 compared to BD9,120.8 million at the end of May 2018, an increase of 7.3%. This amount includes loans and facilities provided to the business sector amounting to BD5,176.7 million at the end of May 2019 compared to BD4,839.9 million at the end of the same period last year.

The data indicates that credit card and debit card transactions across Point of Sales (POS) terminals amounted to BD193.1 million in May 2019 compared to BD178.4 million in May 2018; marking a significant increase of BD14.7 million or 8.3%.

The balance sheet of retail banks increased by BD1.9 billion, or 5.7%, reaching a total of BD34.3 billion at the end of May 2019 compared to BD32.4 billion as at end of May 2018. The data also shows an increase in local non-bank deposits which amounted to BD12.9 billion at the end of May 2019 compared to BD11.9 billion at the end of May 2018, an increase of 8.4%.