Conventional Banks Credit Grows 4.7 Percent till Nov 2018

Muscat, Review of the activities of conventional banks exhibits an annual growth in total outstanding credit of 4.7 percent as at the end of November 2018. Credit to the private sector increased by 3.8 percent to reach RO18.9 billion.

Conventional banks’ overall investments in securities stood at RO3.1 billion. Investment in Government Development Bonds and Government Sukuk increased by 13.2 percent over the year to RO1.4 billion, while their investment in Treasury Bills stood at RO272.6 million.

Conventional banks investments in foreign securities stood at RO1.1 billion at the end of November 2018.

Aggregate deposits held with conventional banks increased by 4.9 percent to RO19.5 billion in November 2018 from

RO18.6 billion a year ago.

Government deposits went up by 11.1 percent to RO5.4 billion, while deposits of public enterprises increased by 15.1 percent to RO1.1 billion.

Private sector deposits which accounted for 65 percent of total deposits with conventional banks, increased by 1.3 percent to RO12.7 billion in November 2018.

The core capital and reserves of conventional banks stood at RO4.5 billion as at the end of November 2018.

Source: Oman News Agency