MUSCAT: Oman Housing Bank (OHB) disclosed that it will accomplish 2,066 housing loan applications that were presented between June 2017 and April 2018 to the tune of RO 100 million.
This was stated by Adnan bin Haider Darwish, CEO, Oman Housing Bank. He added that the government’s decision to raise the bank’s allocations for the current year to RO 100 million, has had a positive effect and had cut down waiting time.
Since its foundation to the end of 2020, OHB has granted a total of 46,605 housing loans at an overall value exceeding RO 1.2 billion. Last year, a total of 911 housing loans were approved at a value of RO 40.2 million, the official said.
Regarding the effect of Covid-19 on the bank, the CEO affirmed the housing loans are a top priority and they will be processed in accordance with the new situation. He added that the Covid-19 pandemic has left a limited effect on the bank’s lending portfolio affirming that the bank is capable of handling that effect owing to its efficient management of the financial resources.
The OHB has completed the preparation of the financial and strategic plan for the next five years. The plan will allow for the activation of some activities in accordance with the basic system of the bank as well as uplifting the existing operations to keep pace with the best practices. This will boost the bank’s financial resources and enable it to meet clients’ needs, said the CEO.
The OHB is currently executing a plan to enhance its electronic services. During the upcoming period the bank will provide registration service on its website beside some other services such as, receiving loan application documents, the e-payment, balance inquiry, obtaining an account statement and obtaining the borrower’s information.
Source: Oman Observer