MSX closes the week higher by 4.70 per cent
Published: 02:03 PM,Mar 12,2022 | EDITED : 06:03 PM,Mar 12,2022
1937593
MUSCAT: MSX30 Index ended the week on a green note by 4.70 per cent. All indices closed high for the week, except services index.
The financial Index closed on a very good note by 6.85 per cent. Industrial Index ended higher by 1.85 per cent. Services Index closed lower by 1.13 per cent. The MSX Shariah Index closed lower by 0.60 per cent.
GCC and, to some extent, foreign Investors were net buyers on the bourse and bought a net $0.95m worth of securities.
Oman banking sector’s total credit stood at RO 27.87 bn (+0.4 per cent MoM and +4.4 per cent YoY) at end-FY21. Total deposits stood at RO 25.36 bn (+0.3 per cent MoM and +5.7 per cent YoY) as at the end of Nov’21.
Loan-to-deposit ratio dropped to 108.8 per cent in Dec’21 compared to 109.7 per cent in Dec’20.
Conventional credit growth picked up pace from May’21 to end FY21 at +3.1 per cent YoY.
Total conventional credit reached RO 23.03 bn (+RO 54m on MoM basis or +0.1 per cent MoM). Conventional credit expanded on MoM basis largely on account of a 1.3 per cent MoM, or RO 40m worth of credit expansion in the Credit to the Public Sector Enterprises.
Government and Non-resident credit registered growth of RO 11.0m and RO 20m during Dec’21. Credit to Private Sector declined by RO 16m, the total contracting by 0.1 per cent MoM.
Conventional deposits grew by +3.2 per cent YoY to reach RO 21.2 bn. Conventional deposits increased by 1 per cent on MoM basis on account of a rise in Public Enterprises and Government deposits which grew by 1.3 per cent and 12 per cent, respectively.
The share of Government & Public Enterprises deposits, which had dropped to the lowest value in our records at 26.6 per cent in Jun’21, has now risen to 29.1 per cent as at the end of Dec’21. Loan-to-deposit (LTD) ratio dropped slightly to 108.6 per cent as compared to 108.8 per cent as at the end of Dec’20.
At end-FY21, Islamic banking financing (Banks & Islamic Windows) reached RO 4.84 bn (+1.1 per cent MoM and +15.2 per cent YoY). Islamic deposits reached RO 4.40 bn (+1.0 per cent MoM and +16.2 per cent YoY).
Islamic financing stands at 17.4 per cent of total Oman banking credit, and Islamic deposits form 17.2 per cent of total bank deposits. Islamic financing-to-deposit ratio dropped to 110 per cent at end-Dec’21 compared to 115 per cent in Dec’20.
A forum was held here between Omani entrepreneurs from the Governorate of South Al Batinah and their counterparts from Iran. The forum discussed means of boosting economic relations and increasing trade exchange between Oman and Iran.
It also highlighted the promising sectors in the Governorate of South Al Batinah and Khazaen Economic City.
(Courtesy: U-Capital)
The financial Index closed on a very good note by 6.85 per cent. Industrial Index ended higher by 1.85 per cent. Services Index closed lower by 1.13 per cent. The MSX Shariah Index closed lower by 0.60 per cent.
GCC and, to some extent, foreign Investors were net buyers on the bourse and bought a net $0.95m worth of securities.
Oman banking sector’s total credit stood at RO 27.87 bn (+0.4 per cent MoM and +4.4 per cent YoY) at end-FY21. Total deposits stood at RO 25.36 bn (+0.3 per cent MoM and +5.7 per cent YoY) as at the end of Nov’21.
Loan-to-deposit ratio dropped to 108.8 per cent in Dec’21 compared to 109.7 per cent in Dec’20.
Conventional credit growth picked up pace from May’21 to end FY21 at +3.1 per cent YoY.
Total conventional credit reached RO 23.03 bn (+RO 54m on MoM basis or +0.1 per cent MoM). Conventional credit expanded on MoM basis largely on account of a 1.3 per cent MoM, or RO 40m worth of credit expansion in the Credit to the Public Sector Enterprises.
Government and Non-resident credit registered growth of RO 11.0m and RO 20m during Dec’21. Credit to Private Sector declined by RO 16m, the total contracting by 0.1 per cent MoM.
Conventional deposits grew by +3.2 per cent YoY to reach RO 21.2 bn. Conventional deposits increased by 1 per cent on MoM basis on account of a rise in Public Enterprises and Government deposits which grew by 1.3 per cent and 12 per cent, respectively.
The share of Government & Public Enterprises deposits, which had dropped to the lowest value in our records at 26.6 per cent in Jun’21, has now risen to 29.1 per cent as at the end of Dec’21. Loan-to-deposit (LTD) ratio dropped slightly to 108.6 per cent as compared to 108.8 per cent as at the end of Dec’20.
At end-FY21, Islamic banking financing (Banks & Islamic Windows) reached RO 4.84 bn (+1.1 per cent MoM and +15.2 per cent YoY). Islamic deposits reached RO 4.40 bn (+1.0 per cent MoM and +16.2 per cent YoY).
Islamic financing stands at 17.4 per cent of total Oman banking credit, and Islamic deposits form 17.2 per cent of total bank deposits. Islamic financing-to-deposit ratio dropped to 110 per cent at end-Dec’21 compared to 115 per cent in Dec’20.
A forum was held here between Omani entrepreneurs from the Governorate of South Al Batinah and their counterparts from Iran. The forum discussed means of boosting economic relations and increasing trade exchange between Oman and Iran.
It also highlighted the promising sectors in the Governorate of South Al Batinah and Khazaen Economic City.
(Courtesy: U-Capital)