ODB finances 18,270 projects

MUSCAT: The number of projects financed by all branches of Oman Development Bank (ODB) in various governorates of the Sultanate since 2014 until the end of last year reached 18,270 projects valued at more than RO 104 million.
Hamad bin Salim al Harthy, Director-General of Oman Development Bank, said that the bank has 18 branches and 6 governorates in the Sultanate’s governorates, where more than 130 employees manage more than 21,000 loans representing 98 per cent of the bank’s total loans, valued at RO 90 million representing 63 per cent of the total portfolio. He added that each fund’s portfolio is managed through the bank’s branches.
The value of this portfolio is RO 69 million for more than 2,000 loans and the percentage of arrears of loans granted during that period is only 2 per cent, adding that the number of loans at each branch increased annually from 242 in 2014 to 313 in 2017. The Director-General of the Oman Development Bank pointed out that the average value of loans increased from RO 1,240,000 during 2014 to RO 1,900,000 by the end of 2017, indicating the high level of productivity of the Bank’s branches. — ONA