The decline in deposits from government and related entities in local banks due to the slump in oil revenue has caused lending to significantly outpace deposits. Conventional banks' credit-to-deposit ratio – the ratio of banks' total outstanding loans to total deposit balance for a period – rose to 104.9% in April this year, the highest level since October 2010. According to Central Bank of Oman (CBO) statistics, the credit-to-deposit ratio has been rising every month over the past one year, as the slump in oil prices forced the government to reduce the flow of its deposits in banks. (Muscat Daily)