Saturday 26 / October / 2024
Muscat: An analysis of the activities of traditional commercial banks during the period (August 2023 - August 2024) indicates continued credit growth in the Sultanate of Oman, as the total credit balance granted by banks recorded an increase of 1.7 percent.
As for credit granted to the private sector, it increased by 0.8 percent to reach OMR20.4 billion by the end of August 2024.
As for the investment item, the total investments of traditional commercial banks in securities witnessed a 41.6 percent increase to reach about OMR6 billion by the end of August 2024. Within this item, investment in government development bonds (GDBs) recorded a decrease of one percent compared to the same period last year to reach OMR1.9 billion.
As for the investments in foreign securities, they witnessed an increase of 139.4 percent to reach OMR2.5 billion by the end of August 2024.
On the liabilities side, total deposits with conventional commercial banks recorded a 10.1 percent increase to reach OMR24.7 billion by the end of August 2024. Within the total deposits, government deposits with commercial banks recorded a 2.1 percent decrease to reach about OMR5.4 billion, while deposits of public sector institutions increased by 28.5 percent to reach about OMR1.9 billion during the same period.
Private sector deposits increased by 7.6 percent to reach OMR16.4 billion in August 2024, representing 66.5 percent of total deposits in conventional commercial banks.
