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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Banks’ credit grows 5.3pc

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MUSCAT: The conventional banks’ credit has registered an annual growth of 5.3 per cent as at the end of October 2018. The credit to the private sector increased by 3.7 per cent to RO 18.8 billion as at the end of October 2018, according to the bulletin released by the Central Bank of Oman (CBO).


Conventional banks’ overall investments in securities stood at RO 3.2 billion as at the end of October 2018. Investment in government development bonds and government sukuk increased by 20.3 per cent over the year to RO 1.4 billion at the end of October 2018.


Conventional banks also invested RO 262.2 million in government treasury bills while their investments in foreign securities stood at RO 1.1 billion at the end of October 2018.


Aggregate deposits held with conventional banks increased by 3.6 per cent to RO 19.3 billion in October 2018 from RO 18.6 billion a year ago.


Government deposits with conventional banks went up by 9.7 per cent to RO 5.3 billion while deposits of public enterprises with conventional banks increased by 21.2 per cent to RO 1.2 billion during the same period.


Private sector deposits, which accounted for 64.2 per cent of total deposits with conventional banks, marginally decreased by 0.3 per cent to RO 12.4 billion in October 2018. The core capital and reserves of conventional banks as at the end of October 2018 stood at RO 4.5 billion. — ONA



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