Deposits held in banks reach OMR19.2bn

Muscat: A review of the activities of conventional banks indicates that the total outstanding credit increased by 4.1 per cent to OMR20.9 billion at the end of June 2018, while the credit extended only to the private sector grew by 2.7 per cent to OMR18.6 billion, according to the report issued by the Central Bank of Oman (CBO).
Conventional banks' overall investments in securities grew by 10.3 per cent to OMR3.1 billion. Investments in Government Treasury Bills (GTBs) stood at OMR326.3 million, while the investment in government securities inclusive of GTBs, government sukuk, and others stood at OMR1.3 billion at the end of June 2018.
Aggregate deposits held with conventional banks, however, increased by 2.5 per cent to OMR19.2 billion in June 2018 from OMR18.7 billion a year ago.
Government deposits with conventional banks increased by 2.8 per cent to OMR5.2 billion, while deposits of public enterprises decreased by 3.3 per cent to OMR1.1 billion during the same period.
Private sector deposits, which accounted for 65.1 per cent of total deposits with conventional banks, increased by 2 per cent to OMR12.5 billion in June 2018 from OMR12.3 billion a year ago. The core capital and reserves of conventional banks stood at OMR4.4 billion at the end of June 2018.