Oman’s banking sector continued to perform well in 2011 so far, consistent with the recovery of the real economy. Credit growth remained buoyant during the first four months of 2011, reflecting rising demand due to sustained economic growth.
The annual bulletin issued by the Central Bank of Oman (CBO) pointed out that the total assets of commercial banks increased by 6.8 per cent to RO 15,779.6 million in April 2011, compared to RO14,770.1 million in April 2010.
Cash on hand and deposits of commercial banks with the CBO stood higher at RO977.1 million at the end of April 2011 compared to RO791.6 million in April 2010.
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