Deposits with banks see increase in February

May 5 – The activities of conventional banks indicate an annual growth in total outstanding credit disbursement of 5.6 per cent as at the end of February 2018. Credit to the private sector increased by four per cent to RO18.5 billion.
A bulletin released by the Central Bank of Oman (CBO) pointed out that conventional banks’ overall investments in securities grew by 11.7 per cent to RO3.4 billion. Investment in Government Treasury Bills stood at RO1.35 billion.
Aggregate deposits held with conventional banks increased by 2.1 per cent to RO18.9 billion in February 2018 from RO18.5 billion a year ago.
Government deposits with conventional banks marginally declined by 0.1 per cent to RO4.9 billion while deposits of public enterprises increased by 4.9 per cent to RO0.9 billion during the same period.
Private sector deposits, which accounted for 66.5 per cent of the total deposits with conventional banks, increased by 0.8 per cent to RO12.6 billion in February 2018 from RO12.4 billion a year ago. The core capital and reserves of conventional banks as at the end of February 2018 stood at RO4.6 billion.
Islamic banking entities provided financing to the extent of RO3.1 billion as at the end of February 2018 as compared to RO2.6 billion a year ago.
Total deposits held with Islamic banks and windows also registered a significant increase to RO3.1 billion in February 2018 from RO2.3 billion as at the end of February 2017. The total assets of Islamic banks and windows combined, amounted to RO3.9 billion as at the end of February 2018, constituting about 12.2 percent of the banking system assets.