National Bank of Bahrain expects double-digit loan growth in 2019 – CEO

Mueller Industries

26/02/2019 17:14

By Davide Barbuscia and Lisa Barrington
    MANAMA, Feb 26 (Reuters) - Majority state-owned National
Bank of Bahrain (NBB) is aiming for double-digit loan growth in
areas such as corporate and structured finance this year, the
chief executive told Reuters.
    NBB, which had 3.15 billion dinars ($8.36 billion) in assets
at the end of 2018, plans to increase lending to major companies
and small and medium-sized enterprises (SMEs), as well as
projects.
    "Our strategy is much more to go into structured finance
transactions ... such as project finance in Bahrain where we can
take a leading role and then develop the relationship with the
client," Chief Executive Jean-Christophe Durand said.
    He said the bank did not intend to be active in lending to
financial institutions.
    NBB's loans and advances increased by 8.7 percent last year,
with SMEs, the commercial sector and structured finance the main
growth contributors, Ahmed Abdulghani, head of debt capital
markets and syndication, also told Reuters this week.
    He said he expected light manufacturing to generate lending
opportunities for NBB, with foreign firms such as U.S.-based
Mueller Industries  MLI.N  and Mondelez  MDLZ.O , the world's
No. 2 confectioner, having expanded operations in Bahrain. 
    NBB, the second largest Bahraini bank by market
capitalisation, said this week it had put on hold its plan to
acquire additional shares in Bahrain Islamic Bank.  urn:newsml:reuters.com:*:nFWN20K05T
    
    ($1 = 0.3768 Bahraini dinars)

 (Reporting by Davide Barbuscia and Lisa Barrington
Editing by Edmund Blair)
 ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters
Messaging: davide.barbuscia.reuters.com@reuters.net))