MUSCAT: The total credit balance granted by the banking sector in the Sultanate of Oman increased by 3.8 per cent to reach RO 30.4 billion by the end of January 2024.
The data issued by the Central Bank of Oman indicated that credit granted to the private sector grew by 4.5 per cent to reach RO 25.7 billion by the end of January 2024.
Data on the distribution of credit across various sectors indicate that non-financial companies held the largest share at 45.5 per cent followed by the individual sector at 45.3 per cent while the remaining percentage was distributed among the financial companies sector at 5.3 per cent and other sectors at 3.8 per cent.
Total deposits in the Omani banking sector grew by 12.8 per cent to reach RO 29.7 billion.
Private sector deposits in the banking system witnessed an increase of 11.6 per cent to reach RO 19.6 billion by the end of January 2024. Individuals held the largest share at 48.7 per cent followed by non-financial companies sector and financial companies sector with shares of 33.3 per cent and 15.1 per cent respectively, while the remaining of 2.8 per cent was distributed among other sectors. — ONA
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