Assets, Deposits of Omani Banks Grow
Assets, Deposits of Omani Banks Grow

Assets, Deposits of Omani Banks Grow

Assets, Deposits of Omani Banks Grow

A rebound in Oman’s economy on the back of the rising oil prices will support stronger deposit and asset growth this year for the sultanate’s lenders, who also stand to benefit from a rise in interest rates, BMI Research said, Arabian Business reported. Higher prices of hydrocarbons, sale of which accounts for the bulk of revenues for the government, will help add liquidity into the system. Together with expected monetary tightening, deposits are expected to grow by 6% in 2018, up from 1.9% in 2017, BMI, a unit of Fitch Ratings, said in its latest report on Oman’s banking system. “This will help Omani banks deleverage, underpinning their resilience to macroeconomic shocks, such as a renewed oil price slump,” according to the report. Economic growth in Oman is expected to accelerate this year and next, as the biggest Middle Eastern oil producer outside Opec boosts oil and gas exports. Real gross domestic product—GDP adjusted for inflation—is projected to expand by 3.2% in 2018 and 3.6% in 2019, from an estimated 0.6% last year.


Short URL : https://goo.gl/c3A8oq
  1. https://goo.gl/S28Qy1
  • https://goo.gl/yejXyj
  • https://goo.gl/gYTWH1
  • https://goo.gl/Z8uSsM
  • https://goo.gl/Sz12jQ

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
World Shares Snap Five-Day Losing Streak
World stocks steadied near three-week lows on Wednesday and...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...
Egypt to Get $2b From IMF in July
Egypt is set to be given the fourth $2 billion tranche of the...

Add new comment

Read our comment policy before posting your viewpoints