MUSCAT: The banking credit of commercial banks in the Sultanate during the first quarter of 2018 stood at RO 20,902.8 million, compared to RO 19,719.2 million during the same period in 2017, registering a growth by 6 per cent.
The quarterly statistical bulletin issued by the Research and Statistics Department at the Central Bank of Oman (CBO) pointed out that the personal loans received RO 8,227.7 million or 39.4 per cent of the total banking credit during the 1st quarter of 2018, RO 2,027.2 million or 9.7 per cent for the construction sector, RO 2,021.3 million or 9.7 per cent for the services sector, followed by the industry sector which received RO 1,510.6 million or 7.2 per cent.
The bulletin pointed out that the import sector received RO 1,140.9 million or 5.5 per cent of the credit granted for the commercial banks during the first quarter of 2018.
The financial institutions received RO 1,070.7 million or 5.1 per cent of the total credit in the same period.
Mining sector (quarries and mines) received RO 1,013.6 million or 4.8 per cent compared to RO 984.2 million or 4.7 per cent for transport sector.
The CBO quarterly statistical bulletin pointed out that the banking credit granted to the electricity, gas and water sectors during the first quarter of 2018 stood at RO 961.5 million or 4.6 per cent.
The wholesale and retail sector received RO 870.1 million, comprising 4.2 per cent.
The agriculture sector and its associated activities received RO 50.5 million or 0.2 per cent while RO 32.7 million or 0.2 per cent for the government sector, followed by the export sector, which received RO 29.2 million or 0.1 per cent of the total loans of the economic sectors.
The bulletin also added that the commercial banks’ total credit for the other economic activities as at the end of the first quarter of 2018 stood at RO 704.5 million or 3.4 per cent.
The banking credit for non-residents stood at RO 258.1 million or 1.2 per cent of the total banking credit. — ONA
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