The total credit balance granted by Omani banking sector companies increased by 3.3% to OMR 31.4 billion by the end of August 2024, according to data from the Central Bank of Oman.
Credit granted to the private sector grew by 2.8%, reaching OMR 26.3 billion by the same period. Non-financial companies accounted for the largest share at 44.9%, followed by the individual sector at 45.2%. The financial companies sector held 6.4%, while other sectors made up the remaining 3.5%.
Total deposits in the banking sector rose by 11.6%, reaching OMR 31.1 billion by the end of August 2024. Private sector deposits saw an 11.7% increase, reaching OMR 20.8 billion.
Of the total private sector deposits, individuals accounted for the largest share at 49.5%, followed by non-financial corporate deposits at 30% and financial corporate deposits at 17.9%. The remaining 2.6% was distributed across other sectors.
