Muscat, The combined balance sheet of conventional banks denotes an annual growth of 2.2 percent in total outstanding credit as on end-April2020. Conventional banks’ credit to the private sector increased by 1.1 percent to RO19.1 billion.
Conventional banks’ overall investments in securities amounted to RO3.4 billion. Investment in Government Development Bonds increased by 17.2 percent over the year to RO1.7 billion.
Banks also invested RO102.3 million in Government Treasury Bills, while their investments in foreign securities stood at RO978.6 million at the end of April 2020.
Aggregate deposits held with conventional banks increased to RO20.4 billion in April 2020, registering a growth of 2.9 percent over the level a year ago.
Government deposits with conventional banks decreased by 15.3 percent to RO4.8 billion, while deposits of public enterprises increased by 19.1 percent to RO1.3 billion.
Private sector deposits, which accounted for 66.5 percent of total deposits with conventional banks, increased by 9.6 percent to RO13.9 billion.
Source: Oman News Agency