Credit to private sector rises by 1.3% to reach OMR19 billion

Muscat: Review of the activities of conventional banks denotes an annual growth in total outstanding credit of 2.5 per cent 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 per cent to reach OMR19 billion as at the end of October 2019.
Conventional banks overall investments in securities stood at OMR3.6 billion at the end of October 2019. Investment in Government Development Bonds and Government Sukuk increased by 6.4 per cent over the year to OMR1.5 billion at the end of October 2019. Banks also invested OMR299.2 million in Government Treasury Bills at the end of October 2019. Conventional banks' investments in foreign securities stood at OMR1.2 billion in October 2019.
Aggregate deposits held with conventional banks increased by 2.5 per cent to OMR19.8 billion in October 2019 from OMR19.3 billion a year ago. Government deposits with conventional banks amounted to OMR5.2 billion. Moreover, deposits of public enterprises amounted to OMR1.2 billion during the same period.
Private sector deposits, which accounted for 65.4 per cent of total deposits with conventional banks, increased by 4 per cent to OMR12.9 billion in October 2019 from OMR12.4 billion a year ago.
The core capital and reserves as at the end of October 2019 of conventional banks stood at OMR4.9 billion.