Thursday, March 28, 2024 | Ramadan 17, 1445 H
broken clouds
weather
OMAN
23°C / 23°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Aggregate deposits of ODCs increase by 4.7 per cent

1090182
1090182
minus
plus

MUSCAT: The Central Bank of Oman (CBO) continued to pursue banking and regulatory policies in line with internationally agreed standards and practices so that banking sector remains resilient and supportive of growth without posing any challenge to financial stability.


The gross non-performing loans as a proportion of total loans and advances stood at 3.3 per cent at the end of September 2018, while the Basel capital adequacy ratio was 16.7 per cent at the end of September 2018 as compared to that mandated at 12.875 per cent.


The combined balance sheet of conventional and Islamic banks (other depository corporations) taken together, provides a complete overview of the financial intermediation taking place in the banking system in Oman. The total outstanding credit extended by Other Depository Corporations (ODCs) stood at RO 24.9 billion as at the end of October 2018, a rise of 7.0 per cent over the level witnessed a year ago.


The credit to the private sector increased by 5.9 per cent to RO 22 billion as at the end of October 2018.


Of the total credit to the private sector, the non-financial corporate sector received 46.3 per cent, followed by the household sector (mainly under personal loans) at 45.4 per cent, financial corporations at 5.4 per cent and other sectors the remaining 2.9 per cent.


Aggregate deposits of ODCs grew by 4.7 per cent to RO 22.5 billion with private sector deposits increasing by 2.5 per cent to RO 14.2 billion as at the end of October 2018. Sector-wise, the share of households was highest at 48.5 per cent in total private sector deposit, followed by non-financial corporations at 30.2 per cent, financial corporations at 18.7 per cent and the other sectors at 2.6 per cent. — ONA


SHARE ARTICLE
arrow up
home icon