Assets of banks in Oman touch OMR27.2 billion

Muscat: Combined assets of Omani banks touched OMR27.2 billion by the end of September 2016, according to the latest monthly bulletin released by the Central Bank of Oman.
Loans, the predominant instrument type of assets, accounted for 72.1 per cent and increased by 7.8 per cent as at end September 2016 to OMR19.6 billion. Credit to the private sector increased by 10 per cent to reach OMR17.5 billion as at the end of September 2016.
Conventional banks' overall investments in securities stood at OMR2.7 billion as at the end of September 2016. Investment in government development bonds and government sukuk increased by 22.8 per cent over the year to OMR921.2 million at the end of September 2016.
Banks also invested OMR386.7 million in government treasury bills as at the end of September 2016. Conventional banks' investments in foreign securities stood at OMR708.6 million in September 2016.
Aggregate deposits held with conventional banks increased slightly by 1.5 per cent to OMR18.4 billion in September 2016 from OMR18.1 billion a year ago.
Government deposits with conventional banks declined by 4.6 per cent to OMR5 billion. Deposits of public enterprises increased by 4 percent to OMR1.1 billion during the same period.
Private sector deposits accounted for 65.3 per cent of total deposits of conventional banks. Inn act, private deposits increased by 3.9 per cent to OMR12 billion in September 2016 from OMR11.6 billion a year ago.
The core capital and reserves of conventional banks reached OMR3.7 billion as at the end of September 2016, a rise of 12.1 per cent over the previous year.
Islamic banking entities provided financing to the extent of OMR2.2 billion as at the end of September 2016 when compared to OMR1.5 billion a year ago.
Total deposits held with Islamic banks and windows registered a significant increase to OMR2 billion in September 2016 from OMR1.3 billion outstanding as at the end of September 2015.
The total assets of Islamic banks and Windows combined, amounted to OMR2.8 billion as at the end of September 2016 which constituted about 9.4 per cent of the banking system assets.