Omani lenders report 9.9% jump in deposits

March 24, 2014 1:44 am

The Omani central bank has said the combined balance sheet of commercial banks indicated positive growth in all major banking aggregates, Times of Oman has reported. Total assets of commercial lenders rose 7.3% to OR22.7bn in January 2014, compared with OR21.1bn a year ago, Times of Oman has reported. Of the total assets, credit disbursement accounted for 67% and increased by 6.6% over the year to OR15.3bn as at the end of January 2014. Total deposits held with commercial banks also witnessed a significant rise of 9.9% to OR15.77bn in January from OR14.35bn in January last year. Government deposits increased by 7.7% to OR4.3bn, while private sector deposits, which constituted 64% of total deposits with commercial banks, increased by 12.1% to OR10.19bn during the month, compared with OR9.09bn a year ago.