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Bank credit and investments in Oman increase

 Traditional commercial banks in the Sultanate of Oman saw a slight increase in their total credit balance, rising by 0.4% by the end of April 2024. The credit extended to the private sector also grew by 0.4%, reaching RO 20.300.

Investments by these banks in securities surged by 28.3%, totaling approximately RO 5.700 by the end of April 2024. However, investment in government development bonds dropped by 11.1%, amounting to RO 1.900 compared to the same period last year.

Traditional banks’ investments in foreign securities saw a substantial rise of 133.8%, reaching RO 2.200 by the end of April 2024.

On the liabilities side, total deposits with traditional commercial banks increased by 9.2%, reaching RO 24.200 at the end of April.

Government deposits with commercial banks grew by 0.9% to RO 5.500, while deposits from public sector institutions soared by 24.5% to RO 1.900.

Private sector deposits rose by 8.9%, reaching RO 16.000 by the end of April 2024, making up 66.3% of the total deposits in traditional commercial banks.