MUSCAT: Omani private deposits in commercial banks saw a noteworthy increase of 8.8 per cent by the end of April 2024, reaching a total value of RO 16,038.700 million, compared to RO 14,733.800 million in the same period of 2023.
According to the latest monthly bulletin from the Central Bank of Oman, these deposits comprised term deposits amounting to RO 5,296.600 million, savings deposits amounting to RO 5,540.900 million, and demand deposits worth RO 4,840.300 million. The total deposits included RO 14,058.300 million and RO 1,980.500 million in foreign currencies.
Looking at the banking indicators of Omani commercial banks as of March 2024, the ratio of total cash and clearing to Omani rial deposits stood at 7 per cent, while the ratio of total cash and clearing to overall deposits was at 5.9 per cent. The ratio of total loans to deposits was at 100.2 per cent.
The percentage of foreign currency deposits to total deposits was 16.7 per cent, and the percentage of foreign assets to total loans reached 11.4 per cent. Foreign assets to total assets stood at 12.6 per cent, while foreign liabilities to total liabilities were at 10.3 per cent.
The proportion of private demand deposits to total private deposits increased to 30.8 per cent, capital and reserves to total deposits reached 22.4 per cent, and allocations and retained interest to total credit amounted to approximately 6 per cent. — ONA
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