• Oman

    • ODB Approves Development Loans Worth RO 14.4 Million

    By on January 29, 2024
    Oman Development Bank
    Oman Development Bank

    Oman Development Bank Approves Development Loans Worth RO 14.4 Million

    Muscat: The Board of Directors of the Development Bank today held its 1st meeting for 2024 under the chairmanship of Eng. Mohammed Abubakr Al Ghassani, Chairman of the Baord.

    During this meeting, the board approved development loans worth RO 14.4 million for projects in the fields of food security, education, converting industries and fisheries.

    Further, the board approved the closing accounts for the year 2023, in which a growth rate of 86% was achieved in terms of approval for loans (a total of RO 128 million) by the end of December 2023.

    The bank’s lending portfolio reached RO 236.3 million, constituting a rise by 26% compared to 2022. In terms of collection, the bank collected a total of RO 59.3 million in 2023, comprising a rise by 10%.

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