Muscat: Oman Housing Bank (OHB) revealed that the total number of loans supported by the government approved during the first nine months of 2020 reached 709, with a value of more than RO 31,265 million.
Adnan bin Haider bin Darwish, CEO of Oman Housing Bank (OHB) assured that the bank continues to play its pioneering role in developing the housing sector in Oman. He also noted that the bank’s management is focusing on enhancing efforts at the current stage to reduce the borrower’s waiting period for his/her role. Moreover, the bank is also working on accelerating the pace of housing loans offered for its customers, who wish to own the right housing with the best banking and administrative service fees currently available in the local market. This contributes to the achievement of the government’s vision led by His Majesty Sultan Haitham bin TariK, which revolve around providing adequate housing for Omani citizens.
In a breakdown of the loans approved during the first nine months of the year 2020 according to the banking and administrative services fee on the loan; the bank indicated that the total loans with 1% reached 58 loans worth RO 2.118 million, while the loans category with a banking and administrative services fees of 2% received the largest percentage of the total number of loans approved reached to 487 loans worth RO 21.156 million. Whereas the total loans with 3% banking and administrative services fee reached 125 total number of loans worth RO 5,968 million, and total loans with 4% banking and administrative fees reached 39 loans with a total value exceeding RO 2.022 million.
As for the breakdown of loans approved during the first nine months of 2020 according to the (9) branches: The bank explained that the head office (MCT) branch approved total number of 145 loans worth RO 6,728 million, while Salalah branch approved 21 loans worth OMR 967,000, and Sohar branch approved 85 Loans worth OMR 3,562 million, whereas Sur branch approved 56 loans worth OMR 2,623 million, Nizwa branch approved 99 loans worth more than RO 4,331 million, Khasab branch approved 28 loans worth RO 1,404 million, Al Buraimi branch approved 43 loans worth RO 1,917 million, Al Rustaq branch approved 189 loans worth more than RO 7.896 million, and finally Ibra branch approved 43 loans worth a total of more than RO 1,835 million.
It is noteworthy that OHB is continuously working on finding appropriate solutions to reduce the waiting period for loan applicants to obtain financing and providing banking facilities to national customers according to an appropriate time frame that helps them achieving the dream of owning a suitable home. The maximum housing loan offered by OHB is OMR 60,000 and the repayment period is up to 25 years. The bank and administrative fee rate is noncompetitive and the best in the local market. --ONA
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