Muscat: The report issued by the Central Bank of Oman (CBO) indicated that credit granted by banks in Oman increased by 8.7 percent to reach OMR30.3 billion at the end of July 2023.
The report issued by the CBO indicated that the amount of credit granted to the private sector rose by 9.3 percent to reach OMR25.5 billion at the end of July 2023.
Data related to its distribution among various sectors indicate that non-financial corporations held the largest share, which amounted to 45.9 percent at the end of July 2023, followed by the household sector at 44.5 percent. The remaining was distributed among the financial companies sector at 5.9 percent and other sectors at 3.7 percent.
Total deposits in the banking sector recorded a growth of 7 percent, reaching OMR27.6 billion at the end of July 2023.
Within this total, private sector deposits in the banking system witnessed an increase of 6.5 percent to reach OMR18.2 billion at the end of July 2023.
When looking at the distribution of the total deposit base of the private sector among the various sectors, the numbers indicate that the household sector held the largest share, which amounted to about 51.1 percent, followed by the non-financial corporations and financial companies with a share of 30.4 percent and 15.6 percent, respectively, while the remaining 2.9. percent was distributed among other sectors.
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