MUSCAT: By the end of March 2024, private deposits with commercial banks in the Sultanate of Oman saw a robust increase of 9.7%, reaching RO 16.491 billion, up from RO 14.629 billion during the same period in 2023. The Central Bank of Oman's monthly statistical bulletin provided a detailed breakdown of these deposits. Term deposits stood at RO 5.430 billion, savings deposits at RO 5.442 billion, and demand deposits at RO 4.846 billion. Additionally, deposits in Omani Rials totaled RO 14.427 billion, while foreign currency deposits were valued at RO 2.604 billion.
Key banking indicators for Omani commercial banks as of March 2024 revealed that the ratio of total cash and clearing to deposits in Omani Rials was 6.7%, while the ratio of total cash and clearing to total deposits stood at 5.5%. The ratio of total loans to deposits reached 100.2%, illustrating a fully utilized loan-to-deposit capacity.
The bulletin also highlighted that deposits in foreign currency accounted for 17.2% of total deposits, and foreign assets represented 11.6% of total loans and 13.2% of total assets. Foreign liabilities constituted 10.3% of total liabilities, indicating a well-managed foreign exposure.
Other noteworthy ratios included private demand deposits, which made up 30.7% of total private deposits, and the ratio of capital and reserves to total deposits, which stood at 22.3%. Furthermore, allocations and retained interest formed about 5.9% of total credit.
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