Oman’s private sector bank deposits grow by 5.6 per cent

Muscat: Private deposits in commercial banks in Oman as at the end of January 2016 rose by 5.6 per cent to OMR11.95 billion compared to OMR11.32 billion in the corresponding period last year, according to a monthly statistical bulletin published by the Central Bank of Oman (CBO).
The gross value for these deposits as of the end of January 2016 includes the time deposits that stood at OMR3,335.5 million, savings deposits of OMR4,367.6 million and demand deposits of OMR3,951.1 million, the bulletin further added.
The bulletin pointed out that the total value for these deposits include OMR11,005.4 million and OMR949.5 million in foreign currencies.
As for the banking indicators for the commercial banks as at the end of January 2016, the bulletin said that broad money and clearance to the deposits in rials was 21.7 per cent. The combined money and clearance to the gross deposits was 19 per cent. The total percentage of loans to deposits was 103.5 per cent.
The rate of foreign currency deposits to the total deposits was 12.5 per cent. The rate of foreign assets to the total loans was 13 per cent. The rate of foreign assets to the total assets was 10.3 per cent. The foreign liabilities to the total liabilities was 16.5 per cent.
The on-demand deposits to the total private deposits was 32.9 per cent. The capital and reserves to the total deposits was 20.2 per cent. The rate of allocations and the retained interests to the total credit was 3.4 per cent.