MUSCAT, (ONA) : The total credit extended by the banking sector in the Sultanate of Oman increased by 3.8 per cent to reach RO 31.4 billion at the end of June 2024.
Data released by the Central Bank of Oman (CBO) indicated that credit extended to the private sector grew by 3.4 per cent to reach RO 26.3 billion at the end of June 2024.
A breakdown of the distribution of credit across various sectors shows that non-financial corporations held the largest share, accounting for 45.2 per cent at the end of June 2024, followed by the individual sector with 44.8 per cent. The remaining percentage was distributed to the financial corporations sector (6.4 per cent) and other sectors (3.6 per cent).
Total deposits with the banking sector recorded growth of 11.6 per cent to reach RO 30.7 billion at the end of June 2024. Within this total, private sector deposits with the banking system increased by 14.8 per cent to reach RO 20.7 billion at the end of June 2024.
Looking at the distribution of the total deposit base of the private sector across various sectors, the figures indicate that the individual sector held the largest share of about 51.8 per cent, followed by the non-financial corporations sector and the financial corporations sector with shares of 29.6 per cent and 15.6 per cent, respectively. The remaining 2.9 per cent was distributed to other sectors.
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