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Bank credit of conventional banks in Oman increases

Business Saturday 28/March/2020 18:48 PM
By: Times News Service
Bank credit of conventional banks in Oman increases
Muscat: The combined balance sheet of conventional banks denotes an annual growth in total outstanding credit of 2.0 per cent at the end of January 2020.
Conventional banks’ credit to the private sector increased by 1.2 per cent to about OMR19 billion.
Conventional banks’ overall investments in securities amounted to OMR3.6 billion.
Investment in Government Development Bonds and Government Sukuk increased by 15.2 per cent over the year to OMR1.7 billion. Banks also invested OMR274.7 million in Government Treasury Bills, while their investments in foreign securities stood at OMR1.2 billion at the end of January 2020.
Aggregate deposits held with conventional banks increased to OMR20.1 billion in January 2019, registering a growth of 3.9 per cent over the level a year ago.
Government deposits with conventional banks decreased by 2.9 per cent to OMR5.2 billion, while deposits of public enterprises increased by 24.4 per cent to OMR1.4 billion.
Private sector deposits, which accounted for 65 per cent of total deposits with conventional banks, increased by 4.9 per cent to OMR13.1 billion.