MUSCAT: The total credit granted by conventional and Islamic banks, or what is known as other depository companies (ODCs), increased by 6.8 per cent to reach RO 30.3 billion at the end of July 2023.
Regarding the total credit granted to the private sector recorded a growth of 9.3 per cent to reach RO.5 billion at the end of July 2023.
Data related to its distribution among various sectors indicates that non-financial companies received the largest share, which amounted to 45.9 per cent by the end of July, followed by the individual sector at 44.5 per cent, and the remaining percentage was distributed to the financial companies sector at 5.9 per cent and other sectors by 3.7 per cent.
The total deposits in the banking sector recorded a growth of 7 per cent, reaching RO 27.6 billion by the end of July 2023.
Within this total, private sector deposits in the banking system witnessed an increase of 6.5 per cent to reach RO 18.2 billion by the end of July 2023.
When looking at the distribution of the total deposit base of the private sector among the various sectors, the numbers indicate that the individual sector held the largest share, which amounted to about 51.1 per cent, followed by the non-financial companies sector and the financial companies sector with a share of 30.4 per cent and 15.6 per cent, respectively, while the remaining percentage was 2.9 per cent and distributed to other sectors. — ONA
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