Thursday 02, August 2018 by Kudakwashe

Ebdaa Bank allocates 2415 loans to entrepreneurs and SMEs

 

The lender said that 49 per cent of loans were paid back, while 81 per cent of borrowers renewed their loans.

  

Bahrain’s Ebdaa Bank announced that it granted 2415 loans for entrepreneurs and SMEs at an estimated value of at BHD 3 million, according to local newswire Bahrain News Agency.

In a statement, the bank said that the estimated value of micro loans ranges between BHD 200 to BHD 5000.

Additionally, the statement revealed that 52 per cent of borrowers are Bahraini women and 51 per cent of total borrowers are youth under the age of 35 years.

Dr. Khaled Al Ghazzawi, CEO of Ebdaa Bank, said that the figures mark a significant success, which have been achieved despite the Bahrain’s economic challenges.

 

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