Saturday 19 / October / 2024
Muscat: The total credit granted by Omani banking sector companies rose by 3.3 percent to reach OMR31.4 billion by the end of August 2024.
Data issued by the Central Bank of Oman (CBO) showed that credit granted to the private sector recorded a growth of 2.8 percent by the end of August 2024, reaching OMR26.3 billion.
Data on its distribution across various sectors indicate that non-financial companies accounted for the largest share, amounting to 44.9 percent by the end of August 2024, followed by the household sector at 45.2 percent, while the remaining percentage was distributed between the financial companies sector at 6.4 percent and other sectors at 3.5 percent.
Total deposits in the banking sector recorded a growth of 11.6 percent to reach OMR31.1 billion by the end of August 2024.
Within this total, private sector deposits in the banking system witnessed an increase of 11.7 percent to reach OMR 20.8 billion by the end of August 2024.
When looking at the distribution of the total private sector deposit base across the various sectors, the figures indicate that the household sector has the largest share, amounting to approximately 49.5 percent, followed by the non-financial corporate sector and the financial corporate sector with shares amounting to 30 percent and 17.9 percent respectively, while the remaining 2.6 percent is distributed across other sectors.
