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BMI Bank repays US$ 120 million term loan on time
Source: BI-ME , Author: BI-ME staff
Posted: Wed July 21, 2010 10:24 am
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BAHRAIN. Bahraini retail and commercial banking institution, BMI Bank (BMI) today announced that it had paid back its three-year syndicated term loan of US$120 million on the scheduled due date demonstrating its strong liquidity position.

The US$ 120million three-year syndicated term-loan facility, was signed in July 2007 by a total of 16 regional and international financial institutions from the Far East, Australia, Europe and Middle East, indicating BMI’s strong reputation within the financial world.

Jamal Al-Hazeem, Chief Executive Officer of BMI said: “This repayment, which was achieved without the need for refinancing or roll over reinforces our position as a strong Bahraini bank with excellent liquidity having one of the strongest Capital Adequacy ratios in the Kingdom, at over 20%. I would like to thank all participating banks for their strong support during our maiden syndication and look forward to cementing stronger relationships with these banks in the future.

We will continue with our strategic plans to grow organically within Bahrain through the introduction of customer-centric products and services as well as enhancing our network of branches and ATMs, making it convenient for our customers to bank with us.

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