Credit disbursement grows at Oman’s conventional banks

Muscat: A review of the activities of conventional banks indicates an annual growth in total outstanding credit disbursement of 5.6 per cent at the end of February 2018. Credit to the private sector also increased by four per cent to OMR18.5 billion.
A bulletin released by the Central Bank of Oman (CBO) said conventional banks' overall investments in securities grew by 11.7 per cent to OMR3.4 billion. Investment in Government Treasury Bills stood at OMR1.35 billion.
Aggregate deposits with conventional banks rose by 2.1 per cent to OMR18.9 billion in February 2018, from OMR18.5 billion a year ago.
Government deposits with conventional banks declined marginally by 0.1 per cent to OMR4.9 billion, while deposits of public enterprises increased by 4.9 per cent to OMR0.9 billion during the same period.
Private sector deposits, which accounted for 66.5 per cent of the total deposits with conventional banks, increased by 0.8 per cent to OMR12.6 billion in February 2018 from OMR12.4 billion a year ago. The core capital and reserves of conventional banks at the end of February 2018 stood at OMR4.6 billion.
Islamic banking entities provided financing to the extent of OMR3.1 billion at the end of February 2018 as compared to OMR2.6 billion a year ago.
Total deposits held with Islamic banks and windows also registered a significant increase to OMR3.1 billion in February 2018 from OMR2.3 billion at the end of February 2017. The combined assets of Islamic banks and windows amounted to OMR3.9 billion at the end of February 2018, constituting some 12.2 per cent of the banking system assets.