• Oman

    • Oman’s total credit balance rises by 3.4% to reach RO 31.3 billion

    By on September 28, 2024
    muscat
    muscat

    Muscat: Data issued by the Central Bank of Oman indicate that the total credit balance granted by the Omani banking sector increased by 3.4 percent by the end of July 2024 to reach OMR 31.3 billion.

    As for credit granted to the private sector, it recorded a growth of 3.0 percent to reach OMR 26.2 billion by the end of July 2024. Data on its distribution across various sectors indicate that the individual sector accounted for the largest share, amounting to 45.1 percent by the end of July 2024, followed by non-financial companies at 44.9 percent, while the remaining percentage was distributed between the financial companies sector at 6.3 percent and other sectors at 3.6 percent.

    Total deposits in the banking sector grew by 12.5 percent to reach OMR 31.0 billion by the end of July 2024. Within this total, private sector deposits in the banking system witnessed a 13.9 percent increase to reach OMR 20.7 billion by the end of July 2024.

    When looking at the distribution of the total private sector deposit base across various sectors, the figures indicate that the individual sector acquired the largest share, amounting to about 49.9 percent, followed by the non-financial corporate sector and the financial corporate sector with shares of 29.9 percent and 17.7 percent, respectively, while the remaining 2.5 percent was distributed among other sectors.

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