Muscat, Review of the activities of conventional banks indicates that total outstanding credit increased by 4.1 percent to RO20.9 billion at the end of June 2018 while their credit extended only to the private sector grew by 2.7 percent to RO18.6 billion, according to the report issued by the Central Bank of Oman (CBO).

Conventional banks’ overall investments in securities grew by 10.3 percent to RO3.1 billion. Investment in Government Treasury Bills stood at RO326.3 million while investment in Government securities inclusive of GDBs, Government Sukuk, and others stood at RO1.3 billion at the end of June 2018.

Aggregate deposits held with conventional banks, however, increased by 2.5 percent to

RO19.2 billion in June 2018 from RO18.7 billion a year ago.

Government deposits with conventional banks increased by 2.8 percent to RO5.2 billion while deposits of public enterprises decreased by 3.3 percent to RO1.1 billion during the same period.

Private sector deposits, which accounted for 65.1 percent of total deposits with conventional banks, increased by 2 percent to RO12.5 billion in June 2018 from RO12.3 billion a year ago. The core capital and reserves of conventional banks stood at RO4.4 billion at the end of June 2018.

Source: Oman News Agency