Oman Housing Bank (OHB) has said that the total number of approved loans, supported by the government, reached 630 loans during the first half of this year (H1 2019). The approved loans are worth more than OMR26.8mn, according to the statement.

Based on the banking and administrative fees on the loan, total loans with 1% banking and administrative fees reached 92 loans worth OMR3.4mn, while those loans with a fee of 2%, reached to 415 loans worth OMR17.4 mn, the largest in the percentage of values of approved loans. The loans with 3 % fees reached 89 loans worth OMR 4.3mn, and one with 4 % fees reached 34 loans with a total value exceeding OMR 1.76 mn.

The total number of approved loans, supported by the government, reached to 630 during the first half of this year.

In terms of branches, according to the bank’s statement, the head office approved 87 loans worth OMR 3.77mn, while the Salalah branch approved 18 loans worth OMR878,000, and Sohar branch approved 92 Loans worth OMR 3.5mn. Other branches include the Sur branch with 67 loans worth OMR 2.9mn, Nizwa branch with 107 loans worth more than OMR 4.7mn. The Khasab branch approved 17 loans worth OMR 871,000 and the Al Buraimi branch approved 35 loans worth OMR 1.57mn. The Al Rustaq branch approved 171 loans worth more than OMR 7mn. The Ibra branch approved 36 loans worth a total of more than OMR 1.5mn.

READ: Oman’s real estate sector transactions 

Adnan Haider Darwish, General Manager – OHB said that the bank would continue to be a key contributor to the growth of the housing sector in the country. The bank, in its efforts to making a borrower-friendly market, recently inked a deal with Arab Fund for Economic and Social Development worth OMR75.6mn, as well as a joint cooperation agreement with the National Bank of Oman (NBO) to be able to offer finance to citizens wishing to buy or build a house, through Home programme for housing finance.