Total banking credit in Oman rises by 7.8% in Q3 2023
Published: 04:02 PM,Feb 03,2024 | EDITED : 07:02 PM,Feb 03,2024
Total banking credit in Oman rises by 7.8% in Q3 2023
MUSCAT: At the end of the third quarter of 2023, the total banking credit for commercial banks in the Sultanate of Oman reached RO 25.3388 billion , compared to RO 23.4938 billion during the same period in 2022, with an increase of 7.8%.
According to the quarterly statistical report issued by the Central Bank of Oman, the personal loans sector accounted for RO 9.3683 billion, representing 38.3% of the total banking credit for commercial banks by the end of September 2023.
The industry sector received RO 2.0183 billion, with a percentage of 8.2, followed by the wholesale and retail trade sector with RO 1.9272 billion, representing 7.9% of the total banking credit. The construction sector received RO 1.8133 billion, accounting for 7.4% of the total banking credit.
The services sector obtained RO 1.7493 billion, representing 7.1% of the credit granted to commercial banks during the first six months of 2023. Additionally, the electricity, transportation, and water sector received RO 1.6186 billion, accounting for 6.6% of the total credit.
The transportation sector obtained RO 1.5183 billion, representing 6.2%, while the financial institutions sector received RO 1.3313 billion, accounting for 5.4%. The mining sector received RO 1.2089 billion, with a percentage of 4.9%.
The report indicates that the banking credit granted to the import sector by the end of the third quarter of 2023 amounted to RO 894.3 million, with a percentage of 1.4%. The government sector received RO 786.7 million, accounting for 3.2% of the total banking credit.
The agriculture and related activities sector obtained RO 44.3 million, representing 0.2%, while the export sector received RO 7.7 million.
The report also states that the banking credit for commercial banks in Oman for other economic activities amounted to approximately RO 800.3 million, with a percentage of 3.3% by the end of the third quarter of 2023. Furthermore, the banking credit for non-residents reached RO 252 million, accounting for 1% of the total banking credit. — ONA
According to the quarterly statistical report issued by the Central Bank of Oman, the personal loans sector accounted for RO 9.3683 billion, representing 38.3% of the total banking credit for commercial banks by the end of September 2023.
The industry sector received RO 2.0183 billion, with a percentage of 8.2, followed by the wholesale and retail trade sector with RO 1.9272 billion, representing 7.9% of the total banking credit. The construction sector received RO 1.8133 billion, accounting for 7.4% of the total banking credit.
The services sector obtained RO 1.7493 billion, representing 7.1% of the credit granted to commercial banks during the first six months of 2023. Additionally, the electricity, transportation, and water sector received RO 1.6186 billion, accounting for 6.6% of the total credit.
The transportation sector obtained RO 1.5183 billion, representing 6.2%, while the financial institutions sector received RO 1.3313 billion, accounting for 5.4%. The mining sector received RO 1.2089 billion, with a percentage of 4.9%.
The report indicates that the banking credit granted to the import sector by the end of the third quarter of 2023 amounted to RO 894.3 million, with a percentage of 1.4%. The government sector received RO 786.7 million, accounting for 3.2% of the total banking credit.
The agriculture and related activities sector obtained RO 44.3 million, representing 0.2%, while the export sector received RO 7.7 million.
The report also states that the banking credit for commercial banks in Oman for other economic activities amounted to approximately RO 800.3 million, with a percentage of 3.3% by the end of the third quarter of 2023. Furthermore, the banking credit for non-residents reached RO 252 million, accounting for 1% of the total banking credit. — ONA