Official statistics published on Thursday indicated a 22.5 percent cash increase in Omani banks to 617.7 million Omani riyals by the end of May 2001, compared to 504.2 million by the end of May 2000.
Omani Central Bank statements, cited by the Kuwaiti official news agency, KUNA, attributed the rise to the 32.6 percent increase in call deposits in Omani riyals and an 11.8 percent increase in currency volume outside the banking system.
The statistics also showed that savings and call deposits in Omani and foreign currency had increased by 10.4 percent, reaching 1,894 million riyals by the end of May 2001.
Each Omani riyal equals 2.6 US dollars.
The statement also said that overall currency had increased by 13.2 percent reaching 2511.8 million riyals by the end of May 2001 compared to the same period back in 1999.
The statistics indicated that overall credit volume at commercial banks had amounted to 3087.4 million riyals compared to 2875 million the year before. The increase is 7.4 percent at 2945.5 million riyals constituting the total credit given to the private sector by the end of may at a 0.6 percent increase compared to May 2000.
Overall deposits at commercial banks reached OR2612.2 million in 2001 compared to OR2327.6 million in 2000 at a 12.2 percent increase. Banks overall capital, main and reserves, also increased to OR424.8 million at a 12.2 percent increase constituting 16.3 percent of deposits volume and 10.7 percent of commercial banks' assets – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
