MUSCAT: Omani banks saw a 3.3% increase in total credit by the end of August 2024, reaching RO 31.4 billion, according to the Central Bank of Oman. Credit to the private sector grew 2.8%, hitting RO 26.3 billion.
Non-financial companies held the largest share of credit at 44.9%, followed closely by individuals at 45.2%. Financial companies accounted for 6.4%, with the remaining 3.5% distributed among other sectors.
Total deposits in the banking sector grew by 11.6%, reaching RO 31.1 billion, while private sector deposits rose 11.7% to RO 20.8 billion. The individual sector held 49.5% of these deposits, while non-financial companies and financial institutions accounted for 30% and 17.9%, respectively. Other sectors made up 2.6% of the deposit base. — ONA
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