The data issued by the Central Bank of Oman showed that the total deposits in the banking sector recorded a growth of 4.1 percent at the end of last April, compared to an annual rate, to reach 24.9 billion riyals (64.7 billion dollars).
The private sector deposits in the banking sector witnessed an estimated increase of 6.8 percent to reach about 17.3 billion riyals (about 45 billion dollars), and the figures showed that the share of the individual sector in the distribution of the total base of deposits for the private sector amounted to about 50.9 percent, then each of the sectors of non-financial companies and financial companies with a share of approximately 32.4 percent and 14.2 percent, respectively, and the remaining 2.5 percent was distributed among other sectors. The balance of credit granted (loans) by conventional and Islamic banks or what is known as other depository companies rose by 3 percent to reach 27.2 billion riyals ($70.7 billion) at the end of last April.
The credit losses of the Omani banking sector rose by the end of last year to 4.1 percent of the total loans granted, as the banks benefited from the provisions in their possession and the support provided by the government.
Source (London-based Al-Arab Newspaper, Edited)
