Total Conventional Banks Assets Hit RO 29.1 Billion till September 2018

Muscat, Review of the activities of conventional banks shows that their total assets stood at RO 29.1 billion in September 2018, increasing by 4.3 percent over that in December 2017 and 5.5 percent over that a year ago, according to the bulletin issued by the Central Bank of Oman (CBO).

Total credit disbursement amounted to RO 21.4 billion at the end of third quarter of 2018 and constituted 73.3 percent of the total assets.

The private sector credit increased year-on-year (YoY) by 3.4 percent to RO 18.7 billion in September 2018, accounting for 87.8 percent of the total credit of conventional banks.

Sector-wise credit distribution shows that of the total credit extended to the private sector, the share of non-financial corporate sector share was 46.7 percent, followed by the household sector with 44.7 percent, and financial corporations and other sectors with 6.2 percent and 2.3 percent respectively.

Securities, the second major component of banks’ assets, increased by 1.8 percent to RO 3.3 billion in September 2018.

Among the investment in securities, Government Development Bonds and Government Sukuk increased YoY by 20.3 percent to RO 1.4 billion at the end of September 2018. Banks also invested RO 257.1 million in Government Treasury Bills as at the end of September 2018. Conventional banks’ investments in foreign securities stood at RO 1.2 billion in September 2018.

The ratio of total foreign assets to total assets worked out at 10.2 percent while foreign liabilities to total liabilities stood at 12.5 percent as at the end of September 2018.

Source: Oman News Agency