Muscat, Review of the activities of conventional banks denotes an annual growth in total outstanding credit of 2.5 percent as at the end of October 2019, according to the bulletin released by the Central Bank of Oman (CBO).

Credit to the private sector increased by 1.3 percent to reach RO19 billion as at the end of October 2019.

Conventional banks overall investments in securities stood at RO3.6 billion as at the end of October 2019. Investment in Government Development Bonds and Government Sukuk increased by 6.4 percent over the year to RO1.5 billion at the end of October 2019. Banks also invested RO299.2 million in Government Treasury Bills as at the end of October 2019. Conventional banks' investments in foreign securities stood at RO1.2 billion in October 2019.

Aggregate deposits held with conventional banks increased by 2.5 percent to RO19.8 billion in October 2019 from RO19.3 billion a year ago. Government deposits with conventional banks amounted to RO5.2 billion. Moreover, deposits of public enterprises amounted to RO1.2 billion during the same period.

Private sector deposits, which accounted for 65.4 percent of total deposits with conventional banks, increased by 4 percent to RO12.9 billion in October 2019 from RO12.4 billion a year ago.

The core capital and reserves as at the end of October 2019 of conventional banks stood at RO4.9 billion.

Source: Oman News Agency