Muscat: The total bank credit extended by commercial banks in the Sultanate of Oman to the private sector rose by 1.2 per cent, to reach OMR19.4 billion at the end of September 2022.
An analysis of the activities of conventional commercial banks during the period (September 2021-September 2022) indicates continued credit growth in the Sultanate of Oman, as the total credit balance granted by banks increased by 2.3 per cent.
Concerning the investment type, the total investment of conventional commercial banks in securities witnessed a decline of 8.3 per cent, to reach about OMR4.6 billion at the end of September 2022.
Investment in government development bonds decreased by 0.9 per cent compared to the same period last year, to reach OMR2.2 billion. Their investments in foreign securities also witnessed a decline of 11.4 per cent to reach OMR0.761 billion at the end of September 2022.
On the liabilities side, total deposits with conventional commercial banks increased by 4.1 per cent to reach OMR21.6 billion at the end of September 2022.
In terms of total deposits, government deposits with commercial banks increased by 13.3 per cent to reach about OMR5 billion, as well as deposits of public sector institutions, which increased by 57.7 per cent to reach about OMR1.9 billion during the same period.
Private sector deposits decreased by 2.6 per cent to reach OMR14.2 billion in September 2022, constituting 65.9 per cent of total deposits with conventional commercial banks.
Islamic banking sector assets reach OMR6.4bn
Data issued by the Central Bank of Oman (CBO) indicates that the total assets of the Islamic banking sector (Islamic banks and windows combined) have increased to about OMR6.4 billion, or 16.2 per cent of the total assets of the banking sector in the Sultanate of Oman, at the end of September 2022, recording an increase of 9.1 per cent compared to the same period last year.
As for the total balance of financing granted by the units that carry out this activity, it increased by 11.8 per cent, to reach about OMR5.3 billion.
Deposits with Islamic banks and windows also recorded an increase of 12.5 per cent, to reach about OMR4.8 billion at the end of September 2022.
