Private-sector credit rises to RO 23.1 billion

MUSCAT: Credit extended by conventional commercial banks in the Sultanate of Oman to the private sector rose 8.2 per cent to RO 23.1 billion by the end of May 2026, according to Central Bank of Oman data.
Total outstanding credit granted by conventional banks increased 11.8 per cent between May 2025 and May 2026, reflecting continued growth in domestic lending, the central bank said in its monthly report.
Banks also expanded their securities portfolios, with total investments rising 29.8 per cent year on year to about RO 7.1 billion at the end of May.
Investments in government development bonds increased 26.3 per cent to RO 2.4 billion, while holdings of foreign securities rose 36.1 per cent to RO 2.6 billion.
On the liabilities side, total deposits held by conventional commercial banks increased 13.7 per cent to RO 28.6 billion.
Government deposits rose 9 per cent to approximately RO 6.3 billion, while deposits from public-sector institutions jumped 42.9 per cent to about RO 2.4 billion.
Private-sector deposits increased 11 per cent to RO 19 billion, accounting for 66.3 per cent of total deposits held by conventional commercial banks at the end of May.
The increase in deposits, credit and securities investments indicated continued expansion across the balance sheets of conventional lenders during the 12-month period. — ONA