Latest news with #deposits
Zawya
2 days ago
- Business
- Zawya
Bank credit in Oman grows 9% to $85bln in April
Muscat – Oman's banking sector recorded robust credit growth of 9.0% during the first four months of 2025, while deposits surged by over 9.3% year-on-year, according to the latest data from the Central Bank of Oman (CBO). Total outstanding credit extended by the banking sector – comprising both conventional and Islamic banks – rose by nine per cent to RO33.6bn as of the end of April 2025, compared to the same period in the previous year, the CBO stated in its monthly statistical bulletin. Of the total credit extended, loans to the private sector grew by 7.0%, reaching RO27.8bn. Non-financial corporations received the largest share of private sector credit, accounting for approximately 46.6% of the total, followed by the household sector at 44.0%. Financial corporations held a 5.6% share, while other sectors made up the remaining 3.7%. In the conventional banking segment, total credit grew by 7.9% year-on-year as of April 2025. Credit extended to the private sector by conventional banks increased by 5.2% to RO21.3bn, while their investments in securities rose by 2.1% to RO5.8bn, according to CBO figures. Investments in government development bonds by conventional banks rose by 6.2% year-on-year to RO2bn in April 2025, while investments in foreign securities increased by 3.7% to RO2.1bn over the same period. Deposits surge 9.3% Deposits across Oman's banking sector grew significantly by 9.3%, reaching RO32.8bn at the end of April 2025. Private sector deposits increased by 7.1% to RO21.5bn. Within this category, household deposits contributed the largest share, accounting for 50.3% of the total, followed by non-financial corporations at 30.4%, financial corporations at 17.0%, and other sectors at 2.3%. Conventional banks saw aggregate deposits rise by 6.1% year-on-year to RO25.7bn by the end of April 2025. Government deposits with conventional banks increased by 6.2% to RO5.8bn, while deposits from public enterprises grew by 11.4% to RO2.2bn. Private sector deposits, which represent 65.2% of total deposits at conventional banks, rose by 4.5% to reach RO16.8bn. According to the CBO, the weighted average interest rate on Omani rial deposits with conventional banks rose slightly from 2.580% in April 2024 to 2.594% at the end of April 2025. Meanwhile, the weighted average lending rate for the Omani rial decreased from 5.604% to 5.555% over the same period. The overnight Omani rial domestic interbank lending rate declined to 4.392% in April 2025, down from 5.212% a year earlier. This decrease is attributed to the reduction in the average repo rate for liquidity injections by the CBO, which fell to 5.0% from 6.0%, in line with the monetary policy direction of the US Federal Reserve. Islamic banking grows by 18% Oman's Islamic banking sector continues to maintain its strong growth trajectory in 2025, with double-digit increases in both credit and deposits. The total assets of Islamic banks and windows grew by 18.1% year-on-year, reaching RO8.9bn by the end of April 2025. Islamic assets now represent approximately 19.6% of the total assets within Oman's banking system. Islamic banking entities provided financing totalling RO7.2bn by the end of April this year, reflecting a 13.5% increase compared to the previous year. Total deposits held by Islamic banks and windows also surged by 22.6%, reaching RO7.1bn in April 2025. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Reuters
3 days ago
- Business
- Reuters
Italian bank deposits' growth accelerates further in April, central bank says
MILAN, June 11 (Reuters) - The growth of Italian residents' deposits at domestic banks accelerated further in April while lending to businesses continued to fall, albeit at a slower pace, the Bank of Italy said on Wednesday. Deposits increased 1.9% year-on-year in April after rising 1.7% in March, central bank data showed. On a monthly basis, they were up to 2.3 trillion euros ($2.63 trillion) from 2.29 trillion euros in March. In October they stood at 2.27 trillion euros, the lowest level since February 2017. Bank loans to businesses fell 0.8% year-on-year, the central bank said, following a 1.1% decline in March. There was almost zero growth in the issuance of bank bonds, data also showed, with sales up 0.2% year-on-year in April after a 3.3% rise in March. ($1 = 0.8754 euros)
Yahoo
3 days ago
- Business
- Yahoo
Coop Pank AS results for May 2025
Coop Pank's financial results in May 2025: In May, number of the bank's clients increased by 1,500 and number of active clients decreased by 800. By the end of the month number of clients reached 216,00 and number of active clients reached 102,400. Over the year, customer base has grown by 11%. Volume of the bank's customer deposits decreased by 47 million euros in May. The reduction in deposit volume was a deliberate step, as an additional 250 million euros was raised in March through the issuance of covered bonds. By the end of the month, the bank's deposits reached 1.76 billion euros. Deposits of corporate customers decreased by 11 million euros and deposits of private customers decreased by 2 million euros. The volume of deposits attracted from international platforms decreased by 34 million euros. Over the year, volume of bank deposits has grown by 1%. The bank's loan portfolio increased by 29 million euros and reached 1.90 billion euros by the end of month. Business loans increased by 14 million euros and home loans increased by 13 million euros. Leasing and consumer financing portfolios both increased by 1 million euros. Over the year, loan portfolio has grown by 19%. In May, the loan impairment cost was 0.4 million euros. Compared to the first five months of last year, the bank's net income decreased by 5% and expenses have increased by 1%. In May, the bank earned net profit of 2.4 million euros. In the first five months of the year, the bank has earned a net profit of 12.1 million euros, that is 17% less than in the same period last year. In May, Coop Pank's return on equity was 13.1% and the cost-income ratio was 50%. Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank: "Although economic uncertainty remains high, the easing of inflation in the eurozone and declining interest rates in money markets are helping to improve the confidence of both businesses and consumers. Lower loan burdens, better opportunities for investment, and Coop Pank's competitive offering resulted in solid growth of the loan portfolio in May. At the same time, the deliberate reduction of deposits continued, driven by the successful covered bond issuance carried out in March. As a result, the bank now has access to a long-term and stable funding source, which enables a moderate decrease in the volume of more expensive term and foreign deposits. In May, Coop Pank extended its successful Teacher's Home Loan product from kindergarten and general education school teachers to include vocational school teachers as well. According to Kantar Emor survey results, Coop Pank is the most recommended bank in Estonia and has reached 10th place in the ranking of reputable employers. In the Responsible Business Index issued by the Kestliku Ettevõtluse Liit KELL, Coop Pank, for the first time, earned the gold-level recognition. At the turn of the month, Coop Pank's cooperation with Coop retail reached a new level: joint customers were offered an attractive and unique purchase reward, with the bank transferring money back to their account for purchases made in Coop stores using a Coop Pank debit card. This is the first large-scale cashback-type loyalty program in Estonia, in which customers receive 1% of their previous month's purchase amount back in cash each month. Strong growth in both the loan and everyday banking markets, along with efficient operations, brought Coop Pank a net profit of 2.4 million euros in May. The bank's return on equity was 13.1% and the cost-to-income ratio stood at 50%." More detailed financial reports of Coop Pank are available at: Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 216,000. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people's homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores. Additional information:Paavo TruuCFOPhone: +372 5160 231E-mail: Coop Pank 2025-05_EN
Bloomberg
4 days ago
- Business
- Bloomberg
China Bans Bank From Luring Depositors With Popular Labubu Dolls
A Chinese lender's stunt to woo depositors with gifts including the wildly popular Labubu dolls has been barred by financial regulators, underscoring the increasingly fraught battle among banks for customers as interest rates and profit margins fall. The Zhejiang branch of the National Financial Regulatory Administration has asked local banks to refrain from giving non-compliant perks to attract deposits, according to people familiar with the matter.
Times of Oman
31-05-2025
- Business
- Times of Oman
Credit granted by banks in Oman reaches OMR33.6bn
Muscat: The total credit granted by the Omani banking sector rose by 9 percent to OMR33.6 billion by the end of April 2025. Data issued by the Central Bank of Oman (CBO) indicated that credit granted to the private sector grew by 7 percent, reaching OMR27.8 billion by the end of April 2025. Data on its distribution across various sectors indicate that the non-financial corporate sector accounted for the largest share, representing 46.6 percent by the end of April 2025, followed by the individual sector at 44 percent. The remaining share was distributed between the financial corporate sector at 5.6 percent and other sectors at 3.7 percent. Total deposits in the Omani banking sector grew by 9.3 percent, reaching OMR32.8 billion by the end of April 2025. Within this total, private sector deposits in the banking system increased by 7.1 percent, reaching OMR21.5 billion by the end of April 2025. When looking at the distribution of the total private sector deposit base across various sectors, the figures indicate that the individual sector holds the largest share, amounting to approximately 50.3 percent, followed by the non-financial corporate sector and the financial corporate sector with shares amounting to 30.4 percent and 17.0 percent, respectively. The remaining percentage (2.3 percent) was distributed across other sectors. Domestic liquidity hits OMR25.1bn Domestic liquidity in the Sultanate of Oman registered a remarkable growth by the end of January 2025, reaching OMR25.61 billion, a 7.2 percent increase compared to the same period in 2024, when it reached OMR23.375 billion. Preliminary data released by the National Centre for Statistics and Information (NCSI) showed that total loans and financing provided by commercial banks and Islamic windows rose by 6.5 percent to OMR32.47 billion by the end of January 2025, compared to OMR30.48 billion by the end of January 2024. The average interest rate on total loans also rose by 1.1 percent to 5.608 percent by the end of the same period. In the same context, private sector deposits in commercial banks and Islamic windows increased by 7.2 percent to OMR20.967 billion by the end of January 2025 compared to OMR 19.559 billion by the end of January 2024. Total foreign assets at the Central Bank of Oman (CBO) also increased by 5.3 percent reaching OMR7.096 billion by the end of January 2025 compared to OMR6.741 billion during the same period in 2024. As for the narrow money supply (M1), which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency, it witnessed a significant increase of 15.5 percent reaching OMR7.32 billion compared to OMR6.90 billion at the end of January 2024. On the other hand, cash issued decreased by 8.3 percent to reach OMR1.44 billion by the end of January 2025 compared to OMR1.57 billion by the end of January of the previous year. The effective exchange rate of Omani riyal rose by 2.7 percent to reach 119.1 points, compared to 116 points at the end of January 2024.
