MUSCAT: A review of the activities of conventional banks indicates an annual growth in total outstanding credit disbursement of 4.1 per cent as at the end of February 2019. Credit to the private sector grew by 2.1 per cent to RO 18.9 billion.
Conventional banks’ overall investments in securities increased by 0.6 per cent to RO 3.4 billion. Investment in government treasury bills stood at RO 327 million at the end of February 2019.
Aggregate deposits held with conventional banks increased by 2.8 per cent to RO 19.4 billion in February 2019 from RO 18.9 billion a year ago.
Government deposits with conventional banks increased by 11.9 per cent to RO 5.5 billion, while deposits of public enterprises increased by 16.6 per cent during the same period.
Private sector deposits, which accounted for 64.4 per cent of total deposits with conventional banks, decreased marginally by 0.4 per cent to RO 12.5 billion. The core capital and reserves of conventional banks as at the end of February 2019 stood at RO 5 billion. — ONA
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