Some 18% of its mortgages were funded through wholesale money markets, with the rest lent against its retail saving deposits
This has been offsetting contractions in time and saving deposits
, and was helped by the rebound in FX [foreign exchange] deposits of government entities which grew by 8.6 per cent month on month in April.
It pointed out that the gross value for these deposits as of the end of January 2015 includes the time deposits stood at OMR3,175.9 million, OMR4,037.2 million saving deposits
and OMR3,902.5 million on demand deposits.
It is astonished and surprised me why KASB Bank had announced operating profit of Rs237 million while current and saving deposits
were 76 percent of total deposits as of December 31 2013.
"Within customers' deposits, fixed deposits as well as saving deposits
registered positive growth during the period under review, though fixed deposits grew at a faster pace compared to saving deposits
," The Gulf Today said.
The monthly statistical bulletin published by the Central Bank of Oman (CBO) showed the gross value for these deposits as of the end of October 2014 includes the time deposits stood at OMR 3,252.2 million, OMR 3,893.2 million saving deposits
and OMR 3,629.8 million on demand deposits.
The growth of bank deposits also remained healthy as time and saving deposits
continued to benefit from the prospect of higher interest rate while heightened activity in the stock market exerted little impact on demand deposits.
"There is market confidence due to the fact that prices have remained stable in the North East over the past few years which is resulting in an increasing number of renters saving deposits
and becoming homeowners.
Money supply in Bahrain's economy, represented by M2 (currency in circulation and demand, time and saving deposits
) rose to BD9.4bn in March, from nearly BD9.2bn at the end of December last year.
He also added that insurance firms do not have the right to collect saving deposits
Time and saving deposits
continued to decline by 0.9% m-o-m in March 2013 after falling 1.4% m-o-m in February 2013, in line with lower rates for longer-term funds.
Interest rates on saving deposits
have had low returns, leading people to turn to riskier investments.