MUSCAT: The total balance of credit granted by conventional and Islamic banks, or what is known as other depository companies, in the Sultanate of Oman increased by 3.5 per cent to reach RO 28.5 billion at the end of August.
The data issued by the Central Bank of Oman indicated that the credit granted to the private sector recorded a growth of 2.4 per cent to reach about RO 23.9 billion by the end of August 2022.
Data related to its distribution over various sectors indicated that non-financial companies acquired the largest share, which amounted to 45.9 per cent at the end of August, followed by the individuals sector by 45.4 per cent, and the remaining percentage was distributed to the financial companies sector by 5.1 per cent and other sectors by 3.7 per cent.
The total deposits in the banking sector grew by 5.2 per cent to reach RO 26.2 billion by the end of August 2022. Within this total, the private sector deposits with the banking system increased by 1.6 per cent to reach RO 17.4 billion.
When looking at the distribution of the total deposit base of the private sector over various sectors, the figures indicate that the individuals sector acquired the largest share, which amounted to about 51.9 per cent, followed by the non-financial companies sector and the financial companies sector with a share of 29.6 per cent and 15.7 per cent, respectively, and the remaining percentage 2.8 per cent was distributed among other sectors.
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