MUSCAT: The total credit granted by conventional and Islamic banks, or what is known as other depository companies (ODCs), increased by 6.8 percent to reach OMR 30.3 billion at the end of July 2023.
Regarding the total credit granted to the private sector recorded a growth of 9.3 percent to reach OMR25.5 billion at the end of July 2023.
Data related to its distribution among various sectors indicates that non-financial companies received the largest share, which amounted to 45.9 percent by the end of July, followed by the individual sector at 44.5 percent, and the remaining percentage was distributed to the financial companies sector at 5.9 percent and other sectors by 3.7 percent.
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Total deposits with the banking sector recorded a growth of 7 percent to reach OMR27.6 billion at the end of July 2023. Within this total, private sector deposits with the banking system increased by 6.5 percent to reach OMR 18.2 billion at the end of July 2023.
When looking at the distribution of the total deposit base of the private sector across various sectors, the figures indicate that the private sector received the largest share, amounting to about 51.1 percent, followed by the non-financial sector companies and the financial sector companies with a share of 30.4 percent and 15.6 percent, respectively, while the remaining percentage is 2.9percent, distributed among other sectors.
