Private deposits at banks rise 1.6 per cent

MUSCAT: Private deposits at commercial banks in the Sultanate as at the end of November 2016 rose by 1.66 per cent to RO 12,050.0 million compared to RO 11,639.5 million in the corresponding period last year, according to a monthly statistical bulletin published by the Central Bank of Oman (CBO). The gross value for these deposits as of the end of November 2016 includes the time deposits that stood at RO 3,707.1 million, savings deposits of RO 4,434.1 million and demand deposits of RO 3,582.1 million.

The bulletin pointed out that the total value for these deposits include RO 11,094.0 million and RO 956 million in foreign currencies. As for the banking indicators for the commercial banks as at the end of November 2016, the bulletin said that the broad money and clearance to the deposits in riyals was 8.6 per cent. The combined money and clearance to the gross deposits was 7.6 per cent. The total percentage of loans to the deposits was 107.7 per cent. The rate of foreign currency deposits to the total deposits was 12.5 per cent. The rate of foreign assets to the total loans was 13.8 per cent. — ONA