• Oman

    • Bank Credit granted to private sector in Oman rises by 4.9 percent, to OMR 24.4 billion

    By on June 24, 2023
    muscat
    muscat

    Muscat: The total credit balance granted by banks increased by 4.9 percent, according to an analysis of the activities of traditional commercial banks during the period (April 2022-April 2023)

    The report issued by the Central Bank of Oman showed that credit granted to the private sector increased by 4.9 percent, to reach OMR 24.4 billion by the end of April 2023.

    With regard to the investment item, the total investment of conventional commercial banks in securities witnessed a sharp decline of 15.4 percent, to reach about OMR 4.4 billion at the end of April 2023. Within this item, investment in government development bonds increased by 0.2 percent to reach OMR 2.1 billion compared to the same period last year.

    As for their investments in foreign securities, it increased by 8.5 percent to reach OMR 900 million by the end of April 2023.

    On the liabilities side -, total deposits with conventional commercial banks increased by 4.1 percent to reach RO 22.2 billion by the end of April 2023.

    Within the total deposits, government deposits with commercial banks increased by 10 percent to about OMR 5.5 billion, as well as deposits of public sector institutions which increased by 10 percent to about OMR 1.5 billion during the same period.

    Private sector deposits increased by 2.2 percent to reach RO 14.7 billion in April 2023, constituting 66.5 percent of total deposits with conventional commercial banks. – ONA

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