Bank lending in Oman rises 6.4% in 2017

2018-03-04 02:49:34

(MENAFN- Muscat Daily) Muscat- Total loans and financing provided by commercial banks in Oman grew 6.4 per cent to RO23.55bn at the end of 2017 compared to RO22.13bn a year ago, according to statistics released by the National Centre for Statistics and Information (NCSI).

Average interest rates on bank loans grew to five per cent at the end of 2017 from 4.8 per cent during the same period in 2016.

The NCSI statistics showed that domestic liquidity increased 4.2 per cent to RO16.06bn in December 2017 compared to RO15.42bn at the end of December 2016.

Private sector deposits at commercial banks and Islamic windows as of the end of December 2017 stood at RO13.94bn, a growth by 5.2 per cent compared to RO13.25bn at the end of December 2016.

Total foreign assets at the Central Bank of Oman declined 20.6 per cent to RO6.18bn compared to RO7.79bn at the end of December 2016.

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