• Oman

    • Oman’s banking sector credit grows 6.3 percent to RO 30 billion

    By on June 17, 2023
    muscat
    muscat

    Muscat: The total balance of credit granted by the banking sector in the Sultanate of Oman increased by the end of April 2023 by 6.3 percent, to reach 30 billion Omani riyals.

    The report issued by the Central Bank of Oman indicated that with regard to credit granted to the private sector, it recorded a growth of 6.8 percent to reach 25.2 billion Omani riyals by the end of last April.

    The data related to its distribution among various sectors indicated that non-financial companies acquired the largest share, which amounted to 46.3 percent, followed by the individual sector at 44.4 percent, while the remaining percentage was distributed to the financial companies sector at 5.6 percent and other sectors at 3.7 percent.

    Total deposits with the banking sector recorded a growth of 5.5 percent to reach RO 27.2 billion at the end of last April.  Within this total, private sector deposits with the banking system increased by 3.7 percent to reach RO 17.9 billion.

    When looking at the distribution of the total deposit base of the private sector over various sectors, the figures indicate that the individual sector acquired the largest share, amounting to about 52.3 percent, followed by the non-financial companies sector and the financial companies sector with a share of 28.2 percent and 16.6 percent, respectively, while the remaining percentage is 2.9 percent distributed to other sectors.

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