MUSCAT: The total credit balance granted by the banking sector in Oman increased by 4.3 per cent to reach RO 30.4 billion by the end of December 2023. Private sector credit, in particular, grew by 4.7 per cent, totaling RO 25.5 billion by the same period.
Data on the distribution of credit across sectors shows that individuals held the largest share of credit at 45.2 per cent, followed by non-financial companies at 45 per cent. Meanwhile, financial companies held 6 per cent, and other sectors accounted for 3.8 per cent.
Total deposits in the banking sector experienced a 12.4 per cent growth, reaching RO 29.1 billion by the end of December 2023. Private sector deposits also increased by 10.6 per cent, totaling RO 19.2 billion during the same period.
Looking at how private sector deposits were distributed among different sectors, figures show that individuals held approximately 49.3 per cent, followed by non-financial companies with 32.4 per cent, financial companies with 15.4 per cent, and other sectors with 2.9 per cent. — ONA
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