MUSCAT: The total deposits with conventional commercial banks in the Sultanate of Oman increased by 3.1 per cent to reach RO 22.2 billion by the end of June 2023.
Government deposits with commercial banks increased by 7.7 per cent to about RO 5.4 billion. As for deposits of public sector institutions, it increased by 1.6 per cent to about RO 1.6 billion during the same period.
As for private sector deposits, it increased by 2.1 per cent to reach RO 14.8 billion in June 2023, constituting 66.4 percent of total deposits with conventional commercial banks.
The monthly bulletin of the Central Bank of Oman (CBO) indicated that the total credit balance granted by conventional commercial banks recorded an increase of 5.1 per cent by the end of June 2023, while credit extended to the private sector increased by 5.4 per cent to reach RO 20.2 billion.
The total investment of traditional commercial banks in securities decreased by 5.9 per cent, to about RO 4.6 billion at the end of June 2023, while investment in government development bonds decreased by 5.1 per cent compared to the same period in 2022, to reach RO 2.1 billion. As for their investments in securities, foreign finance increased by 90.8 per cent to reach RO 1.3 billion. — ONA
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