Pvt deposits in commercial banks rise 1.6 pc

MUSCAT: Private deposits at commercial banks in the Sultanate as at the end of October 2016 rose by 1.66 per cent to RO 11,981.5 million compared to RO 11,786.1 million 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 October 2016 includes the time deposits that stood at RO 3,618.1 million, savings deposits of RO 4,437.5 million and demand deposits of RO 3,591.0 million. The bulletin pointed out that the total value for these deposits include RO 11,041.6 million and RO 939.9 million in foreign currencies. As for the banking indicators for the commercial banks as at the end of October 2016, the bulletin said that the broad money and clearance to the deposits in riyals was 8.7 per cent. The combined money and clearance to the gross deposits was 7.6 per cent. The total percentage of loans to the deposits was 107 per cent. — ONA