Credit to private sector at RO 18 bn

MUSCAT: Credit to the private sector by banks increased by 3.4 per cent to touch RO 18.3 billion. This was revealed in a review of the activities of banks, which indicated an annual growth in total outstanding credit disbursement of 5.3 per cent as at the end of January 2018.
Investment in Government Treasury Bills stood at RO 534.2 million at the end of January, whereas investment in the government securities including GDBs, government sukuk, and others increased by 2.9 per cent over the year to RO 1.35 billion.
Aggregate deposits held with conventional banks increased by 1.2 per cent to RO 18.6 billion in January from RO 18.4 billion last year.
Government deposits with conventional banks marginally declined by 1.7 per cent to RO 4.9 billion, while deposits of public enterprises increased by 2.6 per cent to RO 0.9 billion during the same period.
Private sector deposits, which accounted for 67.6 per cent of total deposits with conventional banks, increased by 2.4 per cent to RO12.6 billion in January from RO 12.3 billion.
The core capital and reserves of conventional banks as at the end of January stood at RO 4.6 billion. Islamic banking entities provided financing to the extent of RO 3.1 billion as at the end of January 2018 as compared to RO 2.5 billion a year ago.
Total deposits held with Islamic banks and windows also registered a significant increase to RO 3.1 billion in January 2018 from RO 2.2 billion as at the end of January 2017.
The total assets of Islamic banks and windows combined, amounted to RO 3.9 billion as at the end of January 2018, constituting about 12.2 per cent of the banking system assets. — ONA