Data issued by the Central Bank of Oman indicate that the total credit balance granted by the Omani banking sector increased by 5.8% at the end of November 2023, reaching RO 30.9 billion.

As for credit granted to the private sector, it recorded a growth of 4.8%, reaching RO 25.5 billion at the end of November 2023. Data related to its distribution among various sectors indicates that non-financial companies accounted for the largest share, reaching 45.2% at the end of November 2023. This was followed by the individual sector with a percentage of 45.1%. The remaining percentage was distributed among the financial companies sector with 5.9% and other sectors with 3.8%.

Total deposits in the banking sector recorded a growth of 9.9%, reaching RO 28.4 billion at the end of November 3202.

Within this total, private sector deposits in the banking system witnessed an increase of 9.2%, reaching RO 18.9 billion at the end of November 2023.

When looking at the distribution of the total deposit base for the private sector among various sectors, the figures indicate that the individual sector accounted for the largest share, approximately 49.7%, followed by non-financial companies and financial companies sectors with shares of 34.1% and 13.4% respectively. The remaining percentage of 2.8% was distributed among other sectors.

ONA