Total assets of commercial banks in the Sultanate rose 15.3 per cent to 20.68 billion rials during the period ended November 2012, compared to 17.93 billion rials in the same period in the previous year on the back of strong GDP growth and supportive monetary and fiscal policies.
Total credit expanded 16 per cent to 14.33 billion rials at the end of November 2012 from 12.35 billion rials a year ago.
While credit to the government declined 8.2 per cent at the end of November 2012, credit to public enterprises and private sector increased 15.6 per cent and 17.1 per cent, respectively.
Oman Tribune - Commercial banks’ assets rise 15.3% to 20.68b rials in Nov
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