Credit granted by banks in Oman rises to OMR20.3bn

Muscat: Total credit balance granted by traditional commercial banks in the Sultanate of Oman increased by 0.4 percent by the end of April 2024, while the credit granted by commercial banks rose by 0.4 percent to reach OMR20.3 billion by the end of April 2024.

Total investments of conventional commercial banks in securities increased by 28.3 percent to reach about OMR5.7 billion by the end of April 2024, while investment in government development bonds (GDBs) decreased by 11.1 percent to reach OMR1.9 billion compared to the same period last year.

As for traditional banks’ investments in foreign securities, they increased by 133.8 percent to reach OMR2.2 billion by the end of April 2024.

On the liabilities, total deposits at conventional commercial banks recorded a 9.2 percent increase to reach OMR24.2 billion by the end of April 2024.

Government deposits with commercial banks increased by 0.9 percent to reach about OMR5.5 billion, while deposits of public sector institutions increased by 24.5 percent to reach about OMR1.9 billion.

Private sector deposits increased by 8.9 percent to reach OMR16 billion by the end of April 2024, constituting 66.3 percent of total deposits in conventional commercial banks.